Guggenheim CIO: ‘Speculative frenzy’ to die down, but $400k target still on
Cointelegraph
Published Jan 17, 2021 12:02PM ET
Updated Jan 18, 2021 02:00PM ET
In an interview with Bloomberg Markets on Friday, Guggenheim Partners’ chief investment officer Scott Minerd clarified his seemingly contradictory views on Bitcoin’s potential, and revealed that select Guggenheim private funds have invested in the cryptocurrency.
Minerd, who oversees Guggenheim’s $275 billion in assets under management, called for a sky-high $400,000 price target for Bitcoin in an interview late last year — easily among the loftiest price predictions from a major institutional head — but more recently said in a Tweet last week that the market may be overheated. The about-face even prompted some playful accusations of market manipulation.
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Written By: Cointelegraph
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