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Scott Minerd, chief investment officer at multibillion-dollar investment firm Guggenheim Partners, told CNBC on Friday that he believed bitcoin could hit $ 10,000 to $ 15,000 when it last passed out.
In the interview, Minerd said investors shouldn’t be eager to invest money in bitcoin just yet ”and predicted that bitcoin could spend the next few years trading sideways before the market turns back. bullish.
In December, Minerd told Bloomberg that his company’s fundamental analysis placed bitcoin at $ 400,000. Just weeks after that, in January, he told CNBC that there was not enough institutional demand to support bitcoins then the all-time high of $ 41,000 and that it could go back to 20,000. $. In early February, he gave CNN his highest price target for bitcoin to date: $ 600,000.
In November, shortly before Minerds’ 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.
In May, Minerd tweeted: The crypto turned out to be Tulipomania, a reference to the Dutch tulip bulb market bubble in the 1600s, when the market collapsed after a period of speculation.
Update: An earlier version of this story involved Scott Minerd changing an earlier prediction for the price of bitcoin.
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