Bill Miller says bitcoin becomes less risky the higher the price goes

Value investor Bill Miller said Friday he believes owning bitcoin becomes a safer investment decision the higher the price of the digital coin gets.Bitcoin was trading over $40,000 per coin Friday afternoon, having posted a record high of almost $42,000 earlier in the day. The cryptocurrency has been on a tear since March, which coincides with governments around the world undertaking massive stimulus efforts to offset the impacts of the coronavirus pandemic."It gets less risky the higher it goes" because it is still early in the adoption cycle, Miller said on "The Exchange." "That's the opposite of what happens with most stocks.""Bitcoin's total supply is growing less than 2% a year and it's obvious by the price that the demand is growing much, much faster than that. As long as that obtains, bitcoin is likely to go higher and perhaps considerably higher," added Miller, founder and chief investment officer of…

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