Bill Miller IV, Chief Investment Officer of Miller Value Partners and a speaker at Bitcoin 2025, sat down with Bitcoin Magazine’s "The Culture Bit" to present a compelling argument for Bitcoin as the primary global denominator of capital.
Bitcoin Beyond Digital Gold
Bill elaborates on why Bitcoin transcends being just digital gold. He views it as a response to engineered outcomes, financial entropy, and institutional inertia. He emphasizes the significance of Michael Saylor and Strategy's approach, predicts more corporations will follow suit, and asserts that the time for investors to remain on the sidelines regarding Bitcoin has passed.
A Legacy of Bitcoin Advocacy
Bill’s perspective on Bitcoin aligns with comments made by his father, Bill Miller III, who disclosed a substantial Bitcoin investment in 2022, with the cryptocurrency comprising roughly half of his asset allocation.
Bitcoin's Solution to Fiat Failures
Drawing on his extensive investing experience spanning over a decade, Bill discusses how Bitcoin addresses inherent flaws in fiat monetary systems. He emphasizes that Bitcoin's strength lies in game theory, governance, and first-principle design, not mere hype. Bill unequivocally endorses Bitcoin, stating, "I purchase Bitcoin daily. It holds the utmost value for me."
Navigating the Bitcoin Market
Join Bill as he delves into how one of Bitcoin's staunchest supporters and long-standing investors approaches the Bitcoin landscape in 2025 and beyond.
For the full interview, check out Bitcoin Magazine's coverage on YouTube, X, Rumble, and the Bitcoin Magazine Podcast.
This article, "The Bill Miller IV Interview: Bitcoin as the Global Denominator of Capital," was originally published on Bitcoin Magazine and authored by Bitcoin Magazine.
Frequently Asked Questions
How does a gold IRA account work?
For people who are looking to invest in precious materials, Gold Ira account accounts provide tax-free investments.
You can purchase physical gold bullion coins anytime. To start investing in gold, it doesn't matter if you are retired.
You can keep gold in an IRA forever. Your gold holdings won't be subject to taxes when you pass away.
Your heirs inherit your gold without paying capital gains taxes. Your gold is not part of your estate and you don't have to include it in the final estate report.
To open a IRA for gold, you must first create an individual retirement plan (IRA). Once you've completed this step, an IRA administrator will be appointed to your account. This company acts as an intermediary between you and IRS.
Your gold IRA custodian can handle all paperwork and submit necessary forms to IRS. This includes filing annual reports.
Once you've established your gold IRA, you'll be able to purchase gold bullion coins. The minimum deposit required for gold bullion coins purchase is $1,000 The minimum deposit is $1,000. However, you will receive a higher percentage of interest if your deposit is greater.
Taxes will apply to gold that you take out of an IRA. If you're withdrawing the entire balance, you'll owe income taxes plus a 10 percent penalty.
You may not be required to pay taxes if you take out only a small amount. However, there are some exceptions. If you take out 30% of your total IRA assets or more, you will owe federal income taxes and a 20 percent penalty.
You should avoid taking out more than 50% of your total IRA assets yearly. Otherwise, you'll face steep financial consequences.
Should You Open a Precious Metal IRA?
Precious metals are not insured. This is the most important fact to know before you open an IRA account. It is impossible to get back money if you lose your investment. This includes all investments that are lost to theft, fire, flood, or other causes.
You can protect yourself against such losses by purchasing physical gold and silver coins. These items have been around for thousands of years and represent real value that cannot be lost. If you were to offer them for sale today, they would likely fetch you more than you paid when you bought them.
Consider a reputable business that offers low rates and good products when opening an IRA. It is also a smart idea to use a third-party trustee who will help you have access to your assets at all times.
Remember that you will not see any returns unless you are retired if you open an Account. Do not forget about the future!
What are the pros & con's of a golden IRA?
An Individual Retirement account (IRA) is a better option than regular savings accounts in that interest earned is exempted from tax. An IRA is a great way to save money and not have to pay taxes on the interest you earn. However, there are also disadvantages to this type of investment.
You could lose all of your accumulated money if you take out too much from your IRA. Also, the IRS may not allow you to make withdrawals from your IRA until you're 59 1/2 years old. A penalty fee will be charged if you decide to withdraw funds.
Another disadvantage is that you must pay fees to manage your IRA. Many banks charge between 0.5%-2.0% per year. Other providers charge monthly management costs ranging from $10-50.
Insurance is necessary if you wish to keep your money safe from the banks. In order to make a claim, most insurers will require that you have a minimum amount in gold. It is possible that you will be required to purchase insurance that covers losses of up to $500,000.
You will need to decide how much gold you wish to use if you opt for a gold IRA. Some providers restrict the amount you can own in gold. Others allow you to pick your weight.
Also, you will need to decide if you want to buy physical gold futures contracts or physical gold. Futures contracts for gold are less expensive than physical gold. Futures contracts allow you to buy gold with more flexibility. Futures contracts allow you to create a contract with a specified expiration date.
Also, you will need to decide on the type of insurance coverage you would like. The standard policy does NOT include theft protection and loss due to fire or flood. However, it does cover damage caused by natural disasters. If you live in a high-risk area, you may want to add additional coverage.
Insurance is not enough. You also need to think about the cost of gold storage. Insurance doesn't cover storage costs. Banks charge between $25 and $40 per month for safekeeping.
You must first contact a qualified custodian before you open a gold IRA. Custodians keep track of your investments and ensure compliance with federal regulations. Custodians don't have the right to sell assets. Instead, they must maintain them for as long a time as you request.
Once you've chosen the best type of IRA for you, you need to fill in paperwork describing your goals. You should also include information about your desired investments, such as stocks or bonds, mutual funds, real estate, and mutual funds. It is also important to specify how much money you will invest each month.
Once you have completed the forms, you will need to mail them to your provider with a check and a small deposit. Once the company has received your application, they will review it and send you a confirmation email.
A financial planner is a good idea when opening a gold IRA. A financial planner can help you decide the type of IRA that is right for your needs. You can also reduce your insurance costs by working with them to find lower-cost alternatives.
How is gold taxed in Roth IRA?
An investment account's tax is calculated based on the current value of the account, and not on what you paid originally. If you invest $1,000 into a mutual fund, stock, or other investment account, then any gains are subjected tax.
If you place the money in a traditional IRA, 401(k), or other retirement plan, there is no tax when you take it out. Taxes are only charged on capital gains or dividends earned, which only apply to investments longer than one calendar year.
The rules that govern these accounts differ from one state to the next. Maryland requires that you withdraw funds within 60 business days after reaching the age of 59 1/2. You can delay until April 1st in Massachusetts. New York allows you to wait until age 70 1/2. To avoid penalties, you should plan ahead and take distributions as soon as possible.
What is the value of a gold IRA
A gold IRA has many benefits. It is an investment vehicle that can diversify your portfolio. You can control how much money is deposited into each account as well as when it's withdrawn.
You also have the option to roll over funds from other retirement accounts into a gold IRA. If you are planning to retire early, this makes it easy to transition.
The best part about gold IRAs? You don't have to be an expert. They're available at most banks and brokerage firms. Withdrawals can be made instantly without the need to pay fees or penalties.
But there are downsides. Gold is historically volatile. It's important to understand the reasons you're considering investing in gold. Is it for growth or safety? Is it for security or long-term planning? Only after you have this information will you make an informed decision.
If you plan on keeping your gold IRA alive for a while, you may want to consider purchasing more than 1 ounce of pure gold. One ounce doesn't suffice to cover all your needs. You could need several ounces depending on what you plan to do with your gold.
If you're planning to sell off your gold, you don't necessarily need a large amount. You can even manage with one ounce. But you won't be able to buy anything else with those funds.
How to Open a Precious Metal IRA?
The first step in opening an Individual Retirement Account, (IRA), is to decide if it's something you want. Once you have decided to open an Individual Retirement Account (IRA), you will need to complete Form 806. Then you must fill out Form 5204 to determine what type of IRA you are eligible for. This form should be completed within 60 days after opening the account. You can then start investing once you have this completed. You could also opt to make a contribution directly from your paycheck by using payroll deduction.
Complete Form 8903 if your Roth IRA option is chosen. The process for an ordinary IRA will not be affected.
To qualify for a precious-metals IRA, you'll need to meet some requirements. The IRS requires that you are at least 18 years old and have earned an income. Your earnings cannot exceed $110,000 per year ($220,000 if married and filing jointly) for any single tax year. And, you have to make contributions regularly. These rules apply to contributions made directly or through employer sponsorship.
An IRA for precious metals allows you to invest in gold and silver as well as platinum, rhodium, and even platinum. You can only purchase bullion in physical form. This means you won’t be able to trade stocks and bonds.
You can also use your precious metals IRA to invest directly in companies that deal in precious metals. Some IRA providers offer this option.
There are two main drawbacks to investing through an IRA in precious metallics. They aren't as liquid as bonds or stocks. It is therefore harder to sell them when required. Second, they don't generate dividends like stocks and bonds. You'll lose your money over time, rather than making it.
How much gold do you need in your portfolio?
The amount of money you need to make depends on how much capital you are looking for. A small investment of $5k-10k would be a great option if you are looking to start small. As your business grows, you might consider renting out office space or desks. Renting out desks and other equipment is a great way to save money on rent. It's only one monthly payment.
It's also important to determine what type business you'll run. In my case, I am running a website creation company, so we charge clients around $1000-2000/month depending on what they order. This is why you should consider what you expect from each client if you're doing this kind of thing.
If you are doing freelance work, you probably won't have a monthly salary like I do because the project pays freelancers. This means that you may only be paid once every six months.
Decide what kind of income do you want before you calculate how much gold is needed.
I recommend starting with $1k-$2k in gold and working my way up.
Statistics
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
- If you accidentally make an improper transaction, the IRS will disallow it and count it as a withdrawal, so you would owe income tax on the item's value and, if you are younger than 59 ½, an additional 10% early withdrawal penalty. (forbes.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- If you take distributions before hitting 59.5, you'll owe a 10% penalty on the amount withdrawn. (lendedu.com)
External Links
wsj.com
- Saddam Hussein's InvasionHelped Uncage a Bear In 90 – WSJ
- Want to Keep Gold in Your IRA at Home? It's not legal – WSJ
law.cornell.edu
- 7 U.S. Code SS7 – Designation boards of trade as contract market authorities
- 26 U.S. Code SS 408 – Individual retirement accounts
investopedia.com
finance.yahoo.com
How To
The best way to buy gold (or silver) online
To buy gold, you must first understand how it works. The precious metal gold is similar to platinum. It is rare and used as money due to its durability and resistance against corrosion. It's difficult to use, so most people prefer purchasing jewelry made from it rather than actual bars.
There are two types currently available: legal tender and bullion. Legal tender coins are minted for circulation in a country and usually include denominations like $1, $5, $10, etc.
Bullion coins are only minted to be used for investment purposes. Their value increases over time because of inflation.
They aren’t exchangeable in any currency exchange. For example, if a person buys $100 worth of gold, he/she gets 100 grams of gold with a value of $100. Each dollar spent by the buyer is worth 1 gram.
Next, you need to find out where to buy gold. There are several options available if your goal is to purchase gold from a dealer. First, your local currency shop is a good place to start. You can also go to a reputable website such as eBay. You can also purchase gold through private online sellers.
Private sellers are individuals that offer gold at wholesale or retail prices. Private sellers will charge you a 10% to 15% commission for every transaction. Private sellers will typically get you less than a coin shop, eBay or other online retailers. This option can be a good choice for investing in gold because it allows you to control the price.
The other option is to purchase physical gold. It is easier to store physical gold than paper certificates. But, you still have to take care of it. To ensure that your physical gold remains safe, you need to secure it in an impenetrable container such as a vault or safety deposit box.
To purchase gold by yourself, you can visit a bank and a pawnshop. A bank can offer you a loan for the amount that you need to buy gold. Customers can borrow money from pawnshops to purchase items. Banks typically charge higher interest rates than pawn shops.
A third way to buy gold? Simply ask someone else! Selling gold is also easy. A company such as GoldMoney.com can help you set up a simple bank account and get paid immediately.
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By: Bitcoin Magazine
Title: The Bill Miller IV Interview: Bitcoin as the Global Denominator of Capital
Sourced From: bitcoinmagazine.com/news/the-bill-miller-iv-interview-bitcoin-as-the-global-denominator-of-capital
Published Date: Mon, 31 Mar 2025 21:49:27 +0000
