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, Bitcoin price should be $ 400,000, says Scott Minerd, Forex-News, Forex-News
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Bitcoin price should be $ 400,000, says Scott Minerd

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, Bitcoin price should be $ 400,000, says Scott Minerd, Forex-News, Forex-News


, Bitcoin price should be $ 400,000, says Scott Minerd, Forex-News, Forex-News

Bitcoin is known as the leading cryptocurrency, at a time when it finally broke through its all-time high. However, there are those who suggest that the value should be higher, and this is the case of Scott Minerd, Director of Investments at Guggenheim Investments.

Minerd believes that the fair value of Bitcoin is close to $ 400,000. According to a Bloomberg review, he believes that the fair value of the world’s largest cryptocurrency still has a long way to go. This happens just as Bitcoin topped $ 20,000 for the first time after a 190% rally.

Guggenheim is among the many institutional investors diving into the world of cryptocurrencies. The firm recently submitted a request to reserve the right to invest up to 10% of its $ 5.3 billion Macro Opportunity Fund in the Grayscale Bitcoin Trust, which invests solely in Bitcoin.

, Bitcoin price should be $ 400,000, says Scott Minerd, Forex-News, Forex-News

What factors does Scott Minerd take into account to ensure that the price of BTC should increase further?

At a general level, the factors that Minerd considers to make his statement are: The shortage of coins, and the “printing of money” by the Fed. Thus, these stand out as bullish factors considered by the expert.

The Bitcoin shortage combined with “rampant money printing” by the Federal Reserve means that BTC should eventually rise to around $ 400,000.

“Our fundamental work shows that Bitcoin should be worth around $ 400,000,” Minerd said in an interview recently. “It’s based on scarcity and relative valuation, like things like gold, as a percentage of GDP. So, you know, Bitcoin actually has many of the attributes of gold, and at the same time, it has unusual value in terms of transactions.

Final comments

It’s a similar argument to what is often offered by some of the most prominent Bitcoin investors, including famous investor Paul Tudor Jones.

Tudor Jones said earlier this year that it has been buying Bitcoin as a hedge against what it expects to be faster inflation after years of subdued consumer prices. Similarly, Mike Novogratz of Galaxy Digital has said that the digital asset can help protect against macro risks.

However, this is just Minerd’s opinion. We reiterate that the idea is not to assume the opinions of the experts as absolute truth. Investing or not in an asset, be it Bitcoin or whatever, depends on your plans and personal analysis.



, Bitcoin price should be $ 400,000, says Scott Minerd, Forex-News, Forex-News

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, Bitcoin price should be $ 400,000, says Scott Minerd, Forex-News, Forex-News

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