Insane Bitcoin Prediction – Guggenheim Partners is clearly bullish on Bitcoin. After taking a 10% stake – roughly $ 50 million – in Grayscale’s Bitcoin fund, Scott Minerd, its chief investment officer, stunned Bloomberg presenters by predicting a $ 400,000 Bitcoin.
A careful analysis
This staggering price would be derived from fundamental Guggenheim analyzes. According to Minerd, 2 metrics were taken into account to determine this price: the scarcity of the asset and its relative value compared to the ounce of gold. This is what Miner told Bloomberg.
“Our fundamental work shows that Bitcoin should be worth about $400,000,” Minerd told Bloomberg Television on Wednesday. “It’s based on the scarcity and relative valuation such as things like gold as a percentage of GDP. So you know, Bitcoin actually has a lot of the attributes of gold and at the same time has an unusual value in terms of transactions.”