The bitcoin takes one-third of Bill Miller's fund

Former Legg Mason's hedge fund manager, Bill Miller, manages a fund about one-third of whose assets are invested in bitcoins, according to The Wall Street Journal.
Miller's fund MVP 1 earned 72.5% from the beginning of the year, thanks to the bitcoin, bought average by 3500 dollars.
For comparison, yesterday, the bitcoin was traded at $6,100, or Miller's investment yielded a 1 600% return.
Miller, however, advises investors not to buy the cryptocurrency at its current high levels. This despite the fact that its fund has raised its investment by 5%, up to 30% in the bitcoin.
Portfolio manager has a good history. While managing one of the Legg Mason funds, he managed to beat the broad S&P 500 index for 15 consecutive years until 2005. Miller left the company in August 2016, after a career spanning 35 years.
Miller said he would not buy more bitcoins for his fund at current prices, but advised anyone who does not have cryptocurrency to invest 1% of his liquid funds there.
For comparison, since the beginning of the year, the broad S&P 500 index has risen by about 15%. The index, following the hedge fund performance, added 5.9% by the end of the third quarter.
The strong appreciation of bitcoin attracts more and more funds that invest in them. The number of funds investing in digital currencies has already risen to 124.