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Guggenheim Partners CIO Says Bitcoin May Go To $400,000
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investopedia.comOne might be forgiven a case of déjà vu. Just as during Bitcoin's previous bull run, while the price of Bitcoin (BTCUSD) races past new records, commentators and proponents are, again, weighing in with sky-high valuations for the cryptocurrency.
Scott Minerd, chief investment officer (CIO) at Guggenheim Partners, recently told Bloomberg that the firm's valuation models suggest that Bitcoin could go as high as $400,000. As of this writing, Bitcoin is changing hands at $22,954. Thursday morning, it whizzed past the $23,000 mark and peaked at $23,653, setting a new record in the process.
Guggenheim Partners does not own Bitcoin. But it has reserved the right to set aside as much as 10% from its $5.3 billion Macro Opportunities Fund to invest
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