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07.11 - 22:55
Why this exec changed his mind about Bitcoin
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Large-cap institutional investments into Bitcoin have been one of the biggest drivers of this year’s exponential bull rally, and investors like Michael Saylor just can’t get enough. However, there are also those that are now disillusioned with the cryptocurrency, deducing that it isn’t all that it was propped up to be.
Scott Minerd, the Chief Investment Officer at Guggenheim Investments recently revealed that he was no longer invested in the top digital asset, after making vastly bullish predictions for BTC earlier this year.
In an interview with CNBC, the CIO announced his exit from the Bitcoin market, caused by a lack of understanding about the asset. He said,
“The one thing I learned as a bond trader years ago, when you don’t understand
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