$BTC Governments have no right to tax Bitcoin because the management of property rights does not require administrative efforts, said the director of investments at Miller Value Partners, Bill Miller IV.

"It doesn’t make much sense for them to get involved there," Miller told Natalie Brunell on the Coin Stories podcast on Wednesday.

The blockchain takes care of property record-keeping, not the government

Miller, known for being one of the early advocates of Bitcoin

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, stated that Bitcoin does not rely on government infrastructure to verify or enforce property rights, unlike traditional assets such as real estate.

"When you buy or sell a house, all those registration taxes, all those taxes go toward keeping a record of who owns what," Miller said.

"The reality is that if you think about why you pay taxes in society, it is to enforce property rights," he added.