As Bitcoin (BTC) Moves Past $23,500 Guggenheim CIO Calls for $400,000 Price Target
Dec 18 2020 · 10:54 UTC by Bhushan Akolkar · 3 min read
Photo: Depositphotos
You have successfully joined our subscriber list.
Guggenheim CIO Scott Minerd says that the rampant money printing by the Federal Reserve coupled with Bitcoin scarcity makes a favorable case for the BTC. Thus he expects BTC to skyrocket to $400,000 wherein it will be close to the global gold market cap.
Bitcoin (BTC) has been on a roll as investors flood the cryptocurrency with massive buy orders. On Thursday, December 17, the BTC price surged all the way to its new all-time high above $23,500. since then, BTC has corrected only marginally and is trading strong at $23,101 at the press time. Just as the Bitcoin bull rally has been unstoppable, institutions continue showering their support for Bitcoin. Speaking to Bloomberg TV on Tuesday, Guggenheim’s chief investment officer Scott Minerd dropped another bomb. Minerd