Express
Guggenheim Partners Chief Investment Officer Values Bitcoin At $400,000
Summary: Guggenheim Partners Chief Investment Officer Scott Minerd stated that his firm's fundamental analysis shows that Bitcoin should be worth $400,000 during an interview with Bloomberg TV. The asset's scarcity and its relative value to gold as a percentage of gross domestic product are the two metrics used to come to this valuation. At the time ...
Guggenheim Partners Chief Investment Officer Scott Minerd stated that his firm's fundamental analysis shows that Bitcoin should be worth $400,000 during an interview with Bloomberg TV.
The asset's scarcity and its relative value to gold as a percentage of gross domestic product are the two metrics used to come to this valuation. At the time of writing Bitcoin is trading hands at $20,795 and is up 6.86%.
Guggenheim began allocating to Bitcoin when the cryptocurrency was trading around $10,000, but now that the price has reached past $20,000 it is a little more difficult, Minerd said. Guggenheim Partners manages more than $230 billion worth of assets.
By Emily Mason
Tags: Bitcoin,BTC,Guggenheim Partners
Link: Guggenheim Partners Chief Investment Officer Values Bitcoin At $400,000 [Copy]
