Guggenheim’s minerd predicted Bitcoin at $ 15,000 and $ 400,000, now it’s completely out

Scott Minerd, chief investment officer of Guggenheim Investments, said he is no longer investing in bitcoin after predicting earlier this year that the cryptocurrency could reach $ 600,000.

  • “The only thing I learned as a bond trader years ago, when you don’t understand what’s going on, get out of the market,” Minerd said in an interview with CNBC of the Milken Conference in Los Angeles. “So the discipline is telling me now that I don’t fully understand this. “
  • He pointed out that if someone had invested $ 1,000 in the shiba inu token even in February, they would have made $ 2.1 million today.
  • In February, Minerd predicted that bitcoin could reach $ 600,000 after he said in December that bitcoin could reach $ 400,000.
  • At the end of June, with bitcoin hovering around $ 30,000, Minerd predicted that bitcoin could drop to around $ 15,000 at its low point.
  • Bitcoin is trading at over $ 63,000 today and has climbed over 40% this month.
  • “We were there a long time, we sold, it came back to where I thought it was and really after watching it, you know, we’ll probably go down,” Minerd said. “Well, we didn’t, so we’re not in it.”
  • In November, shortly before Minerd’s first bullish price prediction, Guggenheim filed an amendment with the United States Securities and Exchange Commission (SEC) to be able to invest up to nearly $ 500 million in bitcoin through the Grayscale Bitcoin Trust (GBTC), which is a unit of Digital Currency Group, the parent company of CoinDesk.

Read more: Guggenheim CIO Says Bitcoin “Should Be Worth” $ 400,000

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