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Guggenheim’s Scott Minerd Says Bitcoin Should Be Worth $400,000

  • Coin’s scarcity, Fed ‘money printing’ cited as bullish factors
  • Bitcoin breached $20,000 for the first time after 190% rally
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Minerd speaks on "Bloomberg Markets."

As Bitcoin surges to record highs, Scott Minerd of Guggenheim Investments believes the world’s largest cryptocurrency’s fair value still has a ways to go.

Bitcoin’s scarcity combined with “rampant money printing” by the Federal Reserve mean the digital token should eventually climb to about $400,000, Minerd, the firm’s chief investment officer, said in an interview. His comments came on the same day Bitcoin breached $20,000 for the first time, bringing its 2020 gain to 190%.