Billionaire investor Bill Miller remains bullish on **Bitcoin**, despite its recent surge against global currencies. Miller believes Bitcoin is still **significantly undervalued** due to its transformative potential and inherent advantages over traditional monetary systems. He highlights the flaws in current monetary systems, susceptible to human error and influence, leading to currency debasement. Bitcoin's decentralized nature, automated ledger network, and secure property transfer system set it apart as a superior monetary governance system. Miller draws parallels to revolutionary technologies like **NVIDIA** and **Google**, emphasizing that Bitcoin represents a similar epistemic breakthrough. He anticipates Bitcoin's market capitalization to multiply in the future, as it offers a superior monetary system in a world of rapidly growing global capital.

Billionaire investor Bill Miller thinks Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) remains &#8220;significantly undervalued&#8221; despite its recent <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39272200/bitcoins-direction-ahead-of-huge-fomc-meeting-and-key-cpi-data-up-down-or-sideways">performance against fiat currencies</a>.
What Happened: Miller&#8217;s <a href="https://millervalue.com/why-im-still-betting-on-bitcoin/">insights</a> come from his latest publication, where he revisits his long-standing belief in the transformative potential of Bitcoin.
He first expressed his optimism about Bitcoin in a 2015 piece titled "A Value Investor&#039;s Case for…Bitcoin?!" and continues to see immense untapped potential in the digital asset.
&#8220;Despite Bitcoin recently hitting new highs against every fiat currency, I believe Bitcoin today is still significantly undervalued,&#8221; he remarked. 
Miller suggests that the world is in the early stages of a profound shift in how capital and its governance are perceived globally.
Highlighting the inherent issues within traditional monetary systems, Miller noted, &#8220;The challenge with current monetary systems is that humans control them, and human judgement is subject to error and influence.&#8221; 
He underscores the point that political and regulatory maneuvers often lead to currency ...<a href=https://www.benzinga.com/markets/cryptocurrency/24/06/39288207/billionaire-bill-miller-thinks-bitcoin-is-still-significantly-undervalued alt=Billionaire Bill Miller Thinks Bitcoin Is Still &#039;Significantly Undervalued&#039;>Full story available on Benzinga.com</a>

Loading...Loading...Billionaire investor Bill Miller thinks Bitcoin BTC/USD remains “significantly undervalued” despite its recent performance against fiat currencies.What Happened: Miller’s insights come from his latest publication, where he revisits his long-standing belief in the transformative potential of Bitcoin.He first expressed his optimism about Bitcoin in a 2015 piece titled "A Value Investor's Case for…Bitcoin?!" and continues to see immense untapped potential in the digital asset.“Despite Bitcoin recently hitting new highs against every fiat currency, I believe Bitcoin today is still significantly undervalued,” he remarked. Miller suggests that the world is in the early stages of a profound shift in how capital and its governance are perceived globally.Highlighting the inherent issues within traditional monetary systems, Miller noted, “The challenge with current monetary systems is that humans control them, and human judgement is subject to error and influence.” He underscores the point that political and regulatory maneuvers often lead to currency debasement, diminishing the value of money over time. According to Miller, Bitcoin offers a compelling alternative, free from the pitfalls of human intervention and manipulation.In his analysis, Miller references Lyn Alden‘s book “Broken Money,” which argues that the most efficient monetary technologies ultimately prevail.Also Read: Bitcoin Climbs Above $67.5K As Spot ETFs See $200M Outflows On TuesdayHe draws parallels between Bitcoin and other revolutionary technologies, such as those developed by NVIDIA, Google, and Meta, which have drastically outperformed other stocks. “Humans are notoriously bad at contextualizing the relevance and potential of new technologies,” Miller said, emphasizing that Bitcoin represents a similar epistemic breakthrough.“Bitcoin is a true technological breakthrough,” Miller stated, “as there now exists an effectively unalterable, automated and transparent global ledger network with decentralized governance.” He believes that this decentralized nature of Bitcoin enables a secure and accountable system for transferring property rights, independent of human intervention or the possibility of confiscation.Discussing Bitcoin’s intrinsic value, Miller expressed, “My view is that it's many multiples of its current $1.5 trillion market capitalization in a world of fiat governance systems fast approaching one quadrillion dollars of capital.” He argues that Bitcoin, despite its relatively small share of the global capital market, offers a superior monetary governance system compared to traditional fiat currencies.Miller concludes his analysis with a cautionary note: “Continuing to ignore Bitcoin will serve those who do it over the next decade as well as it has over the past one – not well.” What’s Next: As the world adapts to new financial paradigms, Miller’s endorsement of Bitcoin underscores the ongoing debate about the role of digital assets in the global economy.For more insights into the future of digital assets, industry stakeholders are encouraged to attend Benzinga’s Future of Digital Assets event on Nov. 19, where these topics will be explored in depth by experts and thought leaders.Read Next: Dogecoin, Shiba Inu Continue To Drive High Trading Volume, Report FindsImage created using artificial intelligence with Midjourney.Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Billionaire Bill Miller Thinks Bitcoin Is Still 'Significantly Undervalued'

Billionaire Bill Miller Affirms Bitcoin's Undervalued Status Amidst Market Performance

Forget a **Bitcoin reserve**—what about a **Dogecoin government stash**? That’s the provocative idea proposed by Dogecoin co-creator **Billy Markus** on Twitter (now X).

Markus questioned, “**Why not a national Dogecoin reserve tho**,” in response to a post discussing the increasing likelihood of **President-elect Donald Trump** creating a strategic Bitcoin reserve. Trump has previously expressed intentions to allow the U.S. government to purchase Bitcoin as a reserve asset, alongside existing reserves like land, Treasuries, and gold.

As Bitcoin continues to gain momentum, the idea of a Dogecoin reserve doesn’t seem far-fetched. With a market cap of **$1.8 trillion**, Bitcoin is currently the **seventh-largest asset** globally, surpassing silver and Saudi Aramco.

In contrast, **Dogecoin (DOGE)** holds the position of the **sixth-biggest cryptocurrency** with a market cap of **$55 billion**. Initially created as a joke based on an Internet meme, Dogecoin gained popularity in 2020-2021, largely due to endorsements from **Elon Musk**, who has suggested its potential for payments.

Wall Street analysts speculate that it may soon be accessible to traditional investors through an **exchange-traded fund (ETF)**. Furthermore, crypto analysts believe that DOGE could easily break its all-time price record from 2021, indicating significant growth potential.

Despite the serious discussions surrounding the leading meme coin, the concept of a **Dogecoin strategic reserve** remains more of a humorous notion for now. However, in the unpredictable world of cryptocurrency, who knows what could happen next?

Dogecoin co-creator Billy Markus floated the idea of a U.S. DOGE strategic reserve amid its latest boom. Could it follow Bitcoin's lead?

Could Dogecoin Follow Bitcoin's Lead with a Strategic Reserve? Insights from Its Co-Founder

As **Bitcoin** surged to a new all-time high, the entire **altcoin market** experienced a significant boost, attracting investors eager to join the Bitcoin rally. Notably, **Litecoin (LTC)** and **Bitcoin Cash (BCH)** were among the top beneficiaries of this upward trend.

However, with Bitcoin testing the $86,000 mark after a brief correction, altcoins began to see a price decline as investors took profits. During this market fluctuation, a new cryptocurrency called **IntelMarkets (INTL)** has emerged, with analysts predicting an impressive **11x growth potential** in the coming months.

### Bitcoin Cash (BCH) Faces Resistance Above $400
After a notable surge, the crypto market is now experiencing a correction, impacting the upward price movement of **Bitcoin Cash (BCH)**. BCH rose from a weekly low of $375 to a peak of $475, but has since found support around **$410**. Despite this bearish trend, analysts like Salx believe BCH's price could rally to **$800** soon, citing similarities in price charts to **DOGE**.

Another expert, Wales, forecasts that BCH may pump to **$900**. Currently, BCH is trading above the **200-SMA** at $395.90, and with a **14-day RSI** above 70, this indicates a bullish sentiment.

### Litecoin (LTC) Price Drops Below 200-SMA
**Litecoin (LTC)** has seen a sharp decline following its recent rise, dropping from **$82** to **$72**. This price dip coincides with Bitcoin's decline from the $89k region. Despite this drop, Litecoin remains profitable over the weekly and monthly timeframes. However, it has fallen below the **200-SMA** at $72.76, and if this trend continues, it may test the next support at **$68.76**.

On a brighter note, if positive sentiment returns to the market, Litecoin could start another uptrend. Analysts like **Crypto Snorlax** believe this downtrend is temporary, with forecasts suggesting LTC could recover to **$128** in the coming weeks.

### IntelMarkets’ (INTL) 11x Potential Becomes Safe Haven for Investors During Market Correction
**IntelMarkets (INTL)** has managed to withstand the recent market correction, with its price rising from **$0.009** to **$0.045** in recent weeks. Experts anticipate that INTL's value may increase by **11x by 2025**. The project has garnered over **$2 million** in funding, including significant investments from Fortune 500 companies, positioning itself as a promising **DeFi** project.

IntelMarkets is innovating the trading experience with its **AI-based platform**, providing sophisticated tools like the **Multichannel Analysis tool** for market data evaluation, and an **AI-based trading bot** for strategy mirroring and trend prediction. Notably, IntelMarkets operates on both **Ethereum** and **Solana**, allowing traders to choose based on their needs—offering access to smart contracts and liquidity pools or fast and cost-effective transactions.

The current decline in Bitcoin's value has impacted Litecoin and Bitcoin Cash, but IntelMarkets stands out as a promising investment opportunity with substantial growth potential.

Litecoin and Bitcoin Cash see a price dip after recent massive gains, while a new coin catches investor attention with a promising 11x growth potential.

Bitcoin Cash and Litecoin Dip as New Coin IntelMarkets Promises 11x Growth Potential

Bitcoin has recently surged to a **record high of $93,409**, fueled by promises made by former President Donald Trump. The potential for Bitcoin to exceed **$100,000** hinges on whether these pledges are fulfilled. This significant price movement highlights the **volatility and speculative nature** of cryptocurrency markets, particularly regarding the impact of political figures on digital asset values. As investors closely monitor these developments, the cryptocurrency landscape continues to evolve rapidly, with Bitcoin at the forefront of this financial revolution.

Bitcoin hits a record high of $93,409 on Trump's promises. $100,000+ possible if pledges fulfilled. Discover more on the cryptocurrency here.

Trump's Bold Crypto Promises Push Bitcoin Towards Record Heights

Keynode introduces its **new BTC staking service**, offering users an exciting opportunity to earn rewards as **Bitcoin** approaches the **$100K** milestone.

![Keynode Photo](https://mma.prnewswire.com/media/2559758/KN.jpg)

### A Unique Investment Opportunity
Keynode, a recognized leader in the **crypto staking platform**, is thrilled to unveil its latest BTC staking option. This service allows investors to participate in **Bitcoin**'s growth journey, enabling them to benefit from the **market potential** while contributing to its broader adoption as it targets the highly anticipated **$100K** threshold.

### Simple and User-Friendly Staking
As one of the first platforms to offer **Bitcoin staking** in a straightforward manner, Keynode positions itself as an essential tool for investors looking to earn **passive income** through **cryptocurrency**. The program allows users to stake their **Bitcoin** holdings and generate steady yields without the need to trade or sell their assets.

### Accessible Staking with Competitive Rewards
Keynode's BTC staking service is designed to attract both new and experienced investors who want to diversify their **crypto portfolios**. With competitive staking rewards and flexible staking periods tailored to various financial goals, users can customize their participation based on their commitment and growth expectations.

### Driving Market Participation
As **Bitcoin** continues to capture the attention of both retail and institutional investors, reaching record highs has become a significant topic of speculation. Keynode's BTC staking program plays a crucial role in supporting the **Bitcoin ecosystem**, potentially influencing overall scarcity and demand. This innovative approach positions investors to remain engaged with **Bitcoin** while enjoying staking rewards, aligning perfectly with the vision of reaching new price heights.

### About Keynode
Keynode is a leader in **crypto staking** solutions, committed to providing accessible and reliable options for users globally. With a focus on security and user-friendly features, Keynode continues to innovate in the **crypto** space, helping investors achieve their financial goals.

For more information on Keynode's BTC staking service, visit [Keynode.net](https://keynode.net) or contact Keynode at (+1) 678-310-6834 or info@keynode.net.

/PRNewswire-PRWeb/ -- Keynode, a recognized leader in the crypto staking platform, is excited to introduce its latest BTC staking option, providing a unique...

Unlocking the Future: Keynode's BTC Staking Service as Bitcoin Eyes $100K

# CFTC Clears the Path for Spot Bitcoin ETF Options

According to **BlockBeats**, on November 16, Bloomberg analyst **Eric Balchunas** announced via social media that the **Commodity Futures Trading Commission (CFTC)** has issued a notice that opens the door for the listing of **spot Bitcoin ETF options**. This marks a significant milestone as it clears the second major hurdle following the **Securities and Exchange Commission (SEC)**.

The next step in this process involves waiting for the **Options Clearing Corporation (OCC)** to officially list these options. This development signifies a major advancement in the regulatory landscape for **Bitcoin-related financial products**. The CFTC's notice is a crucial step towards the broader acceptance and integration of **cryptocurrency options** into mainstream financial markets.

Following the SEC's earlier actions, which were essential for advancing the listing process, the spotlight now shifts to the OCC, which is pivotal for the final approval and listing of these financial instruments.

The potential for spot Bitcoin ETF options is viewed as a **positive development** for the cryptocurrency market, potentially leading to increased participation from **institutional investors**. This could enhance market liquidity and provide more investment opportunities for those interested in cryptocurrency assets. The ongoing regulatory progress reflects a growing recognition of the importance of **digital assets** in the financial ecosystem and the necessity for appropriate regulatory frameworks to support their growth and integration.

According to BlockBeats, on November 16, Bloomberg analyst Eric Balchunas announced on social media that the Commodity Futures Trading Commission (CFTC) has issued a notice that paves the way for the 

CFTC Paves the Way for Spot Bitcoin ETF Options: What It Means for Investors

### Ilya Lichtenstein Sentenced for Bitfinex Hack

Ilya Lichtenstein, who **pleaded guilty** to his involvement in the **2016 Bitcoin hack** of the cryptocurrency exchange **Bitfinex**, has been sentenced to **five years in prison**. The **US Department of Justice (DOJ)** announced this decision on Thursday.

Lichtenstein was part of a **money laundering conspiracy** that resulted in the theft of approximately **120,000 Bitcoin** from Bitfinex.

### Couple’s Bitcoin Hack and Laundering Operation Exposed

Court documents reveal that Lichtenstein utilized **advanced hacking tools** to breach Bitfinex’s network. He fraudulently authorized over **2,000 transactions**, transferring **119,754 Bitcoin** to a wallet he controlled. To evade detection, he deleted access credentials and log files from Bitfinex's network.

After the hack, he enlisted the help of his wife, **Heather Morgan**, to launder the stolen funds. The DOJ disclosed that their **laundering scheme** was “particularly sophisticated.” They created **fictitious identities** to open online accounts, automated transactions, and deposited the stolen Bitcoin into various accounts linked to **darknet markets** and cryptocurrency exchanges.

They also engaged in **chain hopping**, converting Bitcoin into other cryptocurrencies to obscure its origin, and utilized **mixing services** to further disguise the illicit funds, even exchanging some stolen Bitcoin for **gold coins**.

On **August 3, 2023**, both Lichtenstein and Morgan pleaded guilty to **one count of conspiracy to commit money laundering**. Lichtenstein was also ordered to serve **three years of supervised release**, while Morgan’s sentencing is set for **November 18**.

### Bitfinex Declared Primary Victim in BTC Theft

Recently, the **US District Court for the District of Columbia** ruled in favor of Bitfinex, affirming the exchange as the sole entity entitled to restitution for the nearly **120,000 BTC** stolen in the hack. This ruling also led the US government to recognize Bitfinex as the **primary victim** of this incident.

Despite this acknowledgment, the government faces challenges in identifying all affected account holders. Plans are underway to utilize the DOJ’s website dedicated to “large cases” to provide essential notices and streamline the claims process for individuals regarding their **financial losses**.

At the time of writing, Bitcoin is trading at **$88,520**, reflecting a **16% increase** over the week, although it has pulled back from its **all-time high** of **$93,250** reached recently.

Ilya Lichtenstein, who pleaded guilty to his role in the 2016 Bitcoin hack of Bitfinex, has been sentenced to five years in prison.

Major Bitcoin Heist: Hacker Sentenced to 5 Years for Laundering $10.5 Billion from Bitfinex

### **Larry Harmon Sentenced**  
The operator of the cryptocurrency mixing service **Helix** has been sentenced to **three years in prison**.  
**Larry Dean Harmon**, a 41-year-old from Akron, Ohio, **pleaded guilty** in 2021 to conspiracy to commit money laundering. Despite the plea deal, it took three years for the sentencing to occur, and the Justice Department has not commented on the delay.  
  
### **Financial Penalties**  
In addition to his prison term, Harmon has been ordered to forfeit over **$311 million** and faces **three years of supervised release**. His seized assets include cryptocurrencies, real estate, and monetary assets valued at more than **$400 million**.  
  
### **Helix's Operations**  
From **2014 to 2017**, Harmon ran Helix, processing over **$300 million** in cryptocurrency transactions. The platform was notorious for helping cybercriminals launder their **Bitcoin**, linking it to the darknet search engine **Grams**, which Harmon also operated.  
  
### **Mixing Services Explained**  
Mixing services like Helix **pool and mix funds** from various owners, making it difficult to trace the coins back to their original owners. Helix became popular among online drug dealers, processing **354,468 Bitcoin** worth **$311 million** at the time. Harmon profited by taking a percentage of the fees from these transactions.  
  
### **Connections to Darknet Markets**  
The platform's popularity surged due to its connections with other darknet markets, including **AlphaBay**, **Cloud 9**, and **Evolution**, providing an easy financial off-ramp for criminal enterprises.  
  
### **Ongoing Investigations**  
The investigation involved multiple U.S. agencies and international law enforcement, including officials from **Belize**. The **Financial Crimes Enforcement Network** also imposed a **$60 million civil penalty** against Harmon.  
  
### **Family Ties**  
Harmon faced a maximum of **20 years** under original charges. His brother, **Gary Harmon**, received a sentence of over **four years** last year for attempting to steal Bitcoin generated by Larry's operations.  
  
### **Law Enforcement Challenges**  
U.S. law enforcement continues to combat these mixing services, issuing sanctions against popular tools like **Tornado Cash**, **Sinbad**, **ChipMixer**, and others recently charged.  
  
### **Global Sentencing Trends**  
In related news, **Roman Sterlingov**, the operator of **Bitcoin Fog**, was sentenced to **12 years** in U.S. prison last week for running another notorious darknet service.

Larry Harmon ran the mixer from 2014 to 2017, facilitating more than $300 million worth of cryptocurrency transactions.

Billionaire Bill Miller Affirms Bitcoin's Undervalued Status Amidst Market Performance

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Other Latest News

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Trump's Bold Crypto Promises Push Bitcoin Towards Record Heights

Unlocking the Future: Keynode's BTC Staking Service as Bitcoin Eyes $100K

CFTC Paves the Way for Spot Bitcoin ETF Options: What It Means for Investors

Major Bitcoin Heist: Hacker Sentenced to 5 Years for Laundering $10.5 Billion from Bitfinex

Sentenced to 3 Years: The Dark Legacy of Helix Cryptocurrency Mixer Operator

Other Latest News

Could Dogecoin Follow Bitcoin's Lead with a Strategic Reserve? Insights from Its Co-Founder

Bitcoin Cash and Litecoin Dip as New Coin IntelMarkets Promises 11x Growth Potential

Trump's Bold Crypto Promises Push Bitcoin Towards Record Heights

Unlocking the Future: Keynode's BTC Staking Service as Bitcoin Eyes $100K

CFTC Paves the Way for Spot Bitcoin ETF Options: What It Means for Investors

Major Bitcoin Heist: Hacker Sentenced to 5 Years for Laundering $10.5 Billion from Bitfinex

Sentenced to 3 Years: The Dark Legacy of Helix Cryptocurrency Mixer Operator