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Guggenheim’s Minerd Sees Bitcoin Sinking to $8,000 With Crypto Now ‘Suspect’

  • Says crypto hasn’t become credible institutional investment
  • Minerd said in 2020 that Bitcoin would reach $400,000
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Guggenheim’s Minerd on Crypto: ‘Everything Is Suspect'
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Guggenheim Partners Chief Investment Officer Scott Minerd said he expects Bitcoin to fall to $8,000 and that cryptocurrency has become a market of “a bunch of yahoos.” 

“Bitcoin and any cryptocurrency at this point has not really established itself as a credible institutional investment,” Minerd said Wednesday during a Bloomberg Television interview from the World Economic Forum in Davos, Switzerland. “Everything is suspect.”