On June 12, Bill Miller IV, the billionaire investor and chairperson and CIO of Miller Value Partners, reaffirmed his strong belief in Bitcoin in a blog post titled "Why I'm Still Betting on Bitcoin" on June 11. Mr. Miller argues that bitcoin is still grossly "undervalued" and predicts a major shift in global capital governance. He stresses that the traditional monetary system, which is subject to human judgment and political manipulation, is inherently flawed. Bitcoin, as a secure, immutable and automated system, offers a better alternative.