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Bill Miller isn't fazed by the bitcoin drop and says the volatility is 'pretty routine'

Bill Miller at Delivering Alpha 2015 in New York.
David A. Grogan | CNBC

Longtime bitcoin bull and big holder Bill Miller on Wednesday downplayed the cryptocurrency's recent wild trading action.

"If I liked something at higher prices it is a safe bet I will like it even more at lower prices," Miller told CNBC's Kelly Evans in a statement. He added, however, that "I don't comment on normal fluctuations in stock or asset prices."

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