Top Fund Manager Says Bitcoin Isn’t The Best Bet In The Market

Veteran bond investor Bill Gross, known as the “Bond King,” said that while Bitcoin has value, it’s far from the best investment opportunity available today, Todd Campbell reported his comments for TheStreet.

Gross cautioned against overenthusiasm about Bitcoin.

Gross co-founded Pacific Investment Management Co. (PIMCO), which manages $2 trillion in assets, and once ran over $270 billion through its Total Return Fund. He later joined Janus Henderson Investors from 2014 to 2019.

Having managed portfolios since 1971, Gross has weathered market cycles including the Nifty 50 boom, the inflationary 1970s, the S&L crisis, the tech bubble, the 2008 financial crisis, and the COVID-19 shock.

In a recent post on X, Gross acknowledged that Bitcoin has value because its supply is capped and widely held: “There are now approximately 19.4 million Bitcoins priced at about $107,000 each. The supply of total coins is capped at 21 million over the next few years of mining.”

He added: “While hard to estimate, approximately 90–95% are held by individuals, institutions, and exchanges... for the moment there is ‘value’ to a Bitcoin.”

Still, Gross cautioned against overenthusiasm. “It is in the ‘meme stock’ world for the most part—more valuable than a Trump coin but subject to excessive volatility, with underlying value hard to measure.” He concluded: “There are better risk/reward opportunities.”