BitXLanka.Com- Sri Lanka Bitcoin & Crypto Currency Tracker logo BitXLanka.Com- Sri Lanka Bitcoin & Crypto Currency Tracker logo
Seeking Alpha 2020-12-16 20:35:44

Bitcoin worth $400K says Guggenheim's Scott Minerd - Crypto Roundup

Bitcoin (BTC-USD) earlier today shot past $20K to a new record high nearly three years to the day after first surpassing that level. It's currently a few dollars above $20.8K.Scott Minerd is the chief investment officer for Guggenheim Investments and manager of the the $5.3B Guggenheim Macro Opportunities Fund ([[GIOIX]], [[GIOAX]]). They made news last month with a rule change which would allow the fund to put up to 10% of its net asset value in the Grayscale Bitcoin Trust (GBTC). Speaking to Bloomberg's Tom Keene today, Minerd says his team's fundamental work suggests Bitcoin should be worth $400K.To say that raised an eyebrow on Tom Keene is putting it lightly, but Minerd says his analysis is based on scarcity and relative valuation to things like gold. Bloomberg quickly threw things over to Jay Powell's conference, which touched upon things like the Fed's role with respect to climate change, its

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.