Veteran investor Invoice Miller says any main funding financial institution will personal bitcoin or one thing comparable

Mutual fund legend Bill Miller told CNBC on Friday that the risk of Bitcoin going to zero is "lower than ever" and predicted more institutional investments in the cryptocurrency.

"The Bitcoin story is very simple, it's about supply and demand," Miller said. "The supply of Bitcoin is growing by around 2.5% annually and the demand is growing faster."

On Friday, Miller warned of a "return" in inflation, with the Federal Reserve "blowing up the money" and future fiscal relief coming from Congress.

Miller, who serves on the investment committee for the Johns Hopkins University in Baltimore Foundation, said the foundation's chief investment officer had told him that "everyone wants to own at least some bitcoin because of its" asymmetrical properties ".

"[The Foundation] can never own Bitcoin," Miller said. "That's a bold statement for a college foundation," he added.

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