"This is how true investors are, they remain loyal even when they are hurt."
American billionaire investor Bill Miller is impressed with the mother of all cryptocurrencies Bitcoin (BTC) which is still able to maintain its performance despite the crypto market's weak momentum.
Millier expects the price of BTC to surge back to its highest level in the near term as the digital asset has remained strong so far despite the prolonged FTX crisis.
Explained further by him, BTC has not plunged to half of its current price and this shows how great the digital asset is as it is still hovering in the $16,801 zone.
However, BTC is capable of making new highs if the Federal Reserve (Fed) does not act too aggressively to raise interest rates.
In general, Miller is a staunch holder of BTC who believes that the digital asset is a substitute for gold and is able to provide various benefits to many individuals in the future.
On a different note, FTX's Chief Executive Officer (CEO), Sam Bankman-Fired (SBF) was arrested in the Bahamas on charges of fraud, money laundering and other financial crimes after filing for bankruptcy last month.
He reportedly sent shockwaves through the crypto market and investors when his company overnight faced a downfall.
