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Miller Opportunity Trust to Invest in Grayscale and Control About 15% of the Trust

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Biller Miller’s Hedge Fund known as Miller Value Funds appears to be set to stash monies into Grayscale Bitcoin Trust via its maiden trust fund dubbed the Miller Opportunity Trust. The fund has revealed that it would not invest anything more than 15% of its $2.25 billion in its overall worth in BTC.

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While registering with the United States SEC, the representatives of the fund revealed that:

“The Fund may seek investment exposure to bitcoin indirectly by investing in the Grayscale Bitcoin Trust, an entity that holds bitcoin,”

They added:

“The Grayscale Bitcoin Trust invests principally in bitcoin. The Fund will not make any additional investments in the Grayscale Bitcoin Trust if, as a result of the investment, its aggregate investment in bitcoin exposure would be more than 15% of its assets at the time of investment.”

Miller Value Fund’s Miller Opportunity Trust had a grand worth of $2.25 billion in assets under its administration as at Dec. 31, 2020. It appears that the Trust’s max funds in the Grayscale Bitcoin Trust is projected to not be over $337 million.

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Samantha McLemore and Bill Miller both administer the Miller Opportunity Trust et al. Via a letter to financiers in January 2021, Bill Miller’s son, Bill Miller IV compared participating in Microstrategy’s $650 million convertible senior note offering to obtaining a pro bono call option on BTC. 

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