Guggenheim’s Scott Minerd – Bitcoin Turning Into a Frenzy
Guggenheim Partners’ Chief Investment Officer Scott Minerd says Bitcoin’s growing popularity is turning into a frenzy – he’s not wrong but the “frenzy” has yet to truly start and just wait until things really kick-off
Bitcoin Turning Into a Frenzy: Guggenheim CIO Scott Minerd Says
“Ever since the Wall Street behemoth filed a document with the US Securities and Exchange Commission seeking approval to invest in bitcoin, the entity has been significantly more bullish on the cryptocurrency.
Back in December, Guggenheim Partners’ CIO said that the company’s internal analysis estimated that BTC’s price should be about 10x up from its current place. While some speculated that this $400,000 per coin prediction is just a marketing campaign initiated by Minerd, he recently reaffirmed his stance during an interview with CNBC.
Furthermore, he noted that people have started to pay more attention to the cryptocurrency, turning bitcoin into a “frenzy.” He also believes that his prediction would have garnered the spotlight no matter the circumstances.
‘It’s really interesting. It was a passing comment in an interview. And, to be honest with you, I could have said that the United States government is bankrupt, and the Federal Reserve is insolvent, and Bitcoin is going for $400,000 someday. And they would just talk about Bitcoin, which is telling you something. It’s turning into a bit of a frenzy.’”