Is a crypto revolution coming? Why are big U.S. business leaders betting on Bitcoin?

At the recent Forbes/SHOOK Top Advisor summit, where many well-known people from the world of big capitalism spoke, there was unexpectedly a lot of praise for Bitcoin. Here is an excerpt from the statements of two famous top executives — legendary Value Investor Bill Miller and Walmart’s Global Director Suresh Kumar. Both struck a number of people with their bold statements about cryptocurrencies, and we summarize the essence of their views in a single article.

Bill Miller: Bitcoin is insurance against economic disaster

Miller expressed his opinion in a conversation with Morgan Stanley Managing Director Marvin McIntyre at the Forbes/SHOOK Top Advisor Summit. The investor acknowledged that well-established companies from the past decade are now crashing in the face of a hawkish position by the U.S. Federal Reserve.

Miller became widely known for personally buying Amazon stock during the company’s 1997 IPO. The deal brought in hundreds of millions in profits, but it must be remembered that this happened when nobody believed in Amazon, which was something like modern Bitcoin (at the time Amazon was a new and strange business model to most people). 

Legendary investor Bill Miller to Forbes: Buy #bitcoin, it is “an insurance policy against financial disaster.” 🙌 pic.twitter.com/97NXSwY4mb

— Bitcoin Magazine (@BitcoinMagazine) October 14, 2022

This success defined Miller’s strategy for decades to come: As recently as last year, he declared that he had allocated half of his portfolio to the company’s stock. But the billionaire invested the remaining 50% of his capital in Bitcoin. This bold statement (as well as the bet on Bitcoin itself) has left many of his colleagues very puzzled. 

Is the story with Amazon, which no one took seriously at the start, repeating itself again?

Walmart: soon our customers will pay with cryptocurrency 

Global director of the largest U.S. retail Walmart Suresh Kumar believes that cryptocurrency will be a breakthrough in the near future, and a significant portion of customers will make purchases through the metaverse and live streaming on social networks. These bold statements from the top U.S. business, just as in the case of Bill Miller, cause surprise of Suresh’s colleagues.

Walmart's CTO Suresh Kumar is bullish on crypto as a means of payment. https://t.co/0yLOTzVqM4

— Cointelegraph (@Cointelegraph) October 18, 2022

In January, Walmart filed patent applications to create digital currencies, tokens and NFTs in the meta-universe space, and later announced a collaboration with the Roblox meta-universe. The retail giant has long been rumored to be working on rolling out support for crypto payments, but so far there has been no official statement about it. 

Although it is clear from the bold statements of their global director and the actions already announced that the U.S. retail giant Walmart is moving towards the adoption of crypto.