Scott Minerd, investment director of Guggenheim Partners, confirmed his forecast for bitcoin growth to $400,000. He also expressed concerns about the short-term prospects of the cryptocurrency market.
Minerd warned that the crypto market has "gotten a little crazy." According to him, the December forecast is still relevant.
Earlier, analysts at Guggenheim Partners calculated the price of $400,000, taking into account the limited emission and capitalization of bitcoin relative to gold.
According to economist Alex Kruger, Minerd is giving bearish comments about bitcoin in order to buy $500 million worth of cryptocurrency at a low price.
Recall that at the end of November, Guggenheim Partners filed an application with the US Securities and Exchange Commission for investing up to $530 million in Grayscale Bitcoin Trust shares. The proposed amendment will enter into force on January 31.
