{"id":247766,"date":"2022-05-26T17:11:00","date_gmt":"2022-05-26T17:11:00","guid":{"rendered":"https:\/\/omni48.com\/news\/guggenheim-s-scott-minerd-once-saw-bitcoin-hitting-400-000-now-he-says-it-s-more-like-8-000-everything-is-suspect"},"modified":"2022-05-26T17:11:00","modified_gmt":"2022-05-26T17:11:00","slug":"guggenheim-s-scott-minerd-once-saw-bitcoin-hitting-400-000-now-he-says-it-s-more-like-8-000-everything-is-suspect","status":"publish","type":"post","link":"https:\/\/omni48.com\/news\/guggenheim-s-scott-minerd-once-saw-bitcoin-hitting-400-000-now-he-says-it-s-more-like-8-000-everything-is-suspect","title":{"rendered":"Guggenheim&#8217;s Scott Minerd once saw Bitcoin hitting $400,000. Now he says it&#8217;s more like $8,000. &#8216;Everything is suspect&#8217;"},"content":{"rendered":"<p>Sign up for the Fortune Features email list so you don&#8217;t miss our biggest features, exclusive interviews, and investigations.This crypto market is full of &#8220;a bunch of yahoos,&#8221; according to Scott Minerd.The chief investment officer for Guggenheim Partners has changed his tune on this quite a bit. In December 2020, Minerd told Bloomberg that Bitcoin would climb to $400,000 because its scarcity gave it an upper hand over the Federal Reserve&#8217;s &#8220;rampant money printing.&#8221;On Wednesday, Minerd was talking to Bloomberg again, in an interview from the World Economic Forum in Davos, and said crypto and Bitcoin had failed to establish themselves as credible institutional investments.&#8220;Everything is suspect,&#8221; he added.But even though Minerd says Bitcoin is a bad investment now, he allowed that Guggenheim had profited from the cryptocurrency in the past. He said Guggenheim bought an unspecified number of Bitcoins at $20,000 but sold whenever the token hit $40,000. Bitcoin has had a rough 2022. The cryptocurrency has been stuck<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sign up for the Fortune Features email list so you don&#8217;t miss our biggest features, exclusive interviews, and investigations. This crypto market is full of &#8220;a bunch of yahoos,&#8221; according<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-247766","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/247766","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/comments?post=247766"}],"version-history":[{"count":0,"href":"https:\/\/omni48.com\/api\/wp\/v2\/posts\/247766\/revisions"}],"wp:attachment":[{"href":"https:\/\/omni48.com\/api\/wp\/v2\/media?parent=247766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/categories?post=247766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/omni48.com\/api\/wp\/v2\/tags?post=247766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}