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This morning Bitcoin hit a new all-time high surpassing $44,000 per BTC.

Hedge fund legend Bill Miller is exhibiting an even larger appetite for Bitcoin. According to a Friday filing with the United States Securities and Exchange Commission, The Miller Opportunity Trust is seeking indirect exposure to BTC via the Grayscale Bitcoin Trust.

The planned investment is coming at a time when the GBTC premium is at its lowest level since April 2019.

If the GBTC shares acquisition does pull through, it will mark a significant departure from the usual investments in equities and derivatives for the $2.25 billion fund. Indeed, the trust’s website lists airlines, healthcare and financials among its core investment position focus.

With the fund’s Bitcoin exposure limited to 15% of its assets under management, the GBTC outlay could top $300 million. As part of the filing, the trust did comment on price volatility, stating, “There is relatively small use of Bitcoin in the retail and commercial marketplace in comparison to the relatively large use of Bitcoin by speculators.”

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