Bill Miller IV Reveals Firm’s Investment in GME, Touts Bitcoin Treasury Strategy

In a recent interview, Bill Miller IV outlined his firm’s investment approach in a rapidly shifting macro environment, spotlighting GameStop as a new position and reiterating strong conviction in Strategy (formerly MicroStrategy) as the blueprint for Bitcoin treasury strategy. For Miller, corporate Bitcoin strategy is more than a hedge—it’s a signal of innovation, adaptability, and capital efficiency.

Strategy: Solving Corporate Finance Problems with Bitcoin

Miller praised Strategy’s transformation from software company to capital allocator focused on Bitcoin. He emphasized that the company isn’t just investing in Bitcoin—it’s solving traditional corporate finance challenges through Bitcoin-backed innovation. Strategy continues to create access to Bitcoin across the capital stack, offering various instruments with different risk profiles—from equity to convertible notes.

While some view the firm’s market premium as excessive, Miller sees it as deserved. He framed Strategy’s persistent accumulation of Bitcoin through share issuance as an intelligent response to monetary debasement and a model that others have yet to replicate effectively.

He also noted that the rebrand from MicroStrategy to Strategy marked a shift not just in name, but in purpose—cementing the company’s identity as a Bitcoin development company.

Not Every Company Can Be Strategy—But Many Can Start

According to Miller, there’s a growing list of public companies adding Bitcoin to their balance sheets—more than 70 by his count—but his firm only invests in a select few. He emphasized that his team evaluates each one on its own merits, with a value-oriented lens and a clear focus on the core business.

While not every company can become a Bitcoin development company like Strategy, Miller believes many can and should adopt Bitcoin as a long-term store of value. He described Bitcoin as a way for companies to preserve the purchasing power of their excess capital, especially in light of monetary policies designed to erode fiat value over time.

He emphasized that companies facing secular challenges—such as declining core businesses or structural industry shifts—may find in Bitcoin a meaningful way to preserve relevance and shareholder value.

New Position: GameStop Signals Memetic and Strategic Potential

Miller confirmed a new starter position in GameStop, explaining that the decision was driven by the company’s recent capital raise and signs that it may be exploring a Bitcoin strategy. Though the position is small, it reflects his firm’s broader interest in companies that show signs of innovation and unorthodox capital allocation.

He highlighted Ryan Cohen’s role at GameStop as a potentially powerful catalyst, pointing to Cohen’s cultural influence and willingness to think outside traditional finance norms. The ability to shape narratives, Miller suggested, is increasingly important in a world where memetics and capital markets are intertwined.

He sees potential for GameStop to follow a path similar to Metaplanet or Strategy—retail businesses that have embraced Bitcoin in response to broader existential challenges.

Bitcoin as the Rational Response to Monetary Debasement

Miller made the case for Bitcoin adoption as a response to ongoing monetary debasement. He explained that if policymakers openly target 2% annual inflation—or more—then it is rational for companies and individuals to move an equivalent portion of their fiat-denominated capital into Bitcoin.

He stressed that this isn’t a speculative move but a fundamental capital preservation strategy. The key, he noted, is holding Bitcoin over the long term and recognizing it as a way to transfer value into the future with a lower risk of purchasing power erosion.

Miller also noted that more companies are waking up to this logic, especially as regulatory clarity improves. He expects adoption to continue accelerating and sees the current period as a pivotal moment for CFOs and corporate treasurers to take action.

A Call to Forward-Thinking Financial Leaders

For Miller, Bitcoin isn’t a temporary trade—it’s a long-term solution to structural problems in fiat finance. He believes corporate leaders who ignore this trend risk falling behind. The momentum, he says, is clear: more public companies are entering the space, and early adopters are beginning to outperform.

Strategy remains the benchmark. GameStop, Metaplanet, and others may follow. But the broader takeaway is this: in a competitive, inflationary world, companies that fail to evolve risk irrelevance. Bitcoin offers a path forward—one rooted in long-term thinking and strategic capital deployment.

Disclaimer: This content was written on behalf of Bitcoin For Corporations. This article is intended solely for informational purposes and should not be interpreted as an invitation or solicitation to acquire, purchase, or subscribe for securities.

This post Bill Miller IV Reveals Firm’s Investment in GME, Touts Bitcoin Treasury Strategy first appeared on Bitcoin Magazine and is written by Nick Ward.

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