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Guggenheim CIO Scott Minerd has warned crypto investors about bitcoin’s pullback. He said bitcoin “clearly has gotten caught in a speculative bubble that Gamestop got into.” However, he noted that it will be a “great entry point” for long-term investors. ‘Great Entry Point’ for Bitcoin Investors The chief investment officer (CIO) of Guggenheim Partners, Scott […]Powered by WPeMatico
Guggenheim Global Chief Investment Officer Scott Minerd has increased his bitcoin fair value estimate. He now says that the price of the cryptocurrency could reach $600K based on his firm’s fundamental research. Guggenheim’s SEC filing to invest half a billion dollars in bitcoin became effective early this week. Guggenheim’s Scott Minerd Says Bitcoin’s Price Could […]Powered by WPeMatico
As bitcoin struggles to kickstart yet another record-breaking rally, Scott Minerd, the CIO at Guggenheim Investments says this could be down to the inadequate institutional support. According to Minerd’s assessment, this lack of sufficient institutional investor support means it will be hard for bitcoin to trade above $30,000. The CIO, however, thinks the viability of […]Powered by WPeMatico
Guggenheim CIO Scott Minerd has made another bearish prediction for short term Bitcoin prices.
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Guggenheim Investments, an asset management firm with over $230 billion under management, has valued bitcoin at $400,000 based on fundamental analysis. Guggenheim wanted to invest in bitcoin when the price of the cryptocurrency was at the $10,000 level. The company is currently waiting for approval from the U.S. Securities and Exchange Commission (SEC) to start […]
The post Guggenheim Investments: Bitcoin Is Worth $400,000 Based on Scarcity, Relative Valuation to Gold appeared first on Bitcoin News.
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