{"id":35860,"date":"2021-02-04T15:44:36","date_gmt":"2021-02-04T13:44:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35860"},"modified":"2025-08-29T03:20:48","modified_gmt":"2025-08-29T00:20:48","slug":"guggenheim-partners-projects-bitcoin-to-reach-600000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/guggenheim-partners-projects-bitcoin-to-reach-600000\/","title":{"rendered":"Guggenheim Partners projects Bitcoin to reach $600,000"},"content":{"rendered":"<p>The investment director of Guggenheim Partners, Scott Minerd, revised his prior forecast for Bitcoin&#8217;s long-term prospects. In an interview with CNN he said the price of the first cryptocurrency could rise to $600,000.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">&#8220;Cryptocurrency has come into the realm of respectability &#038; will continue to become more and more important in the global economy.&#8221; <a href=\"https:\/\/twitter.com\/ScottMinerd?ref_src=twsrc%5Etfw\">@ScottMinerd<\/a> talks <a href=\"https:\/\/twitter.com\/search?q=%24GME&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GME<\/a> \/ <a href=\"https:\/\/twitter.com\/search?q=%24SLV&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SLV<\/a> \/ <a href=\"https:\/\/twitter.com\/search?q=%24BTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BTC<\/a> and the logic of bubbles versus buying frenzy. <a href=\"https:\/\/t.co\/ZWoZqZNU2M\">pic.twitter.com\/ZWoZqZNU2M<\/a><\/p>\n<p>\u2014 Julia Chatterley (@jchatterleyCNN) <a href=\"https:\/\/twitter.com\/jchatterleyCNN\/status\/1356706642176462856?ref_src=twsrc%5Etfw\">February 2, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>&#8220;If you look at Bitcoin&#8217;s supply relative to, say, gold&#8217;s supply and its overall value, the cryptocurrency could rise to similar levels, i.e. around $400,000\u2013$600,000 per coin,&#8221; Minerd said.<\/p>\n<\/blockquote>\n<p>According to the executive, Guggenheim Partners has been studying the first cryptocurrency for almost ten years. He added that the market size was previously too small and unwarranted for institutional money.<\/p>\n<p>Minerd noted that the rapid rise of digital gold from $20,000 to $40,000 in a matter of weeks &#8220;smacks of short-term speculation&#8221;.<\/p>\n<p>In his words, institutional involvement in the market is rising, but it is still not enough to sustain the current Bitcoin price level.<\/p>\n<p>The expert added that the cryptocurrency has earned respect in the market and will continue to play a major role in the global economy.<\/p>\n<p>Earlier, on January 21, Minerd said that Bitcoin had already peaked in its market value this year. He forecast <a href=\"https:\/\/forklog.com\/en\/news\/guggenheim-partners-bitcoin-price-to-retreat-to-20000\">a drop in BTC price to around $20,000<\/a>.<\/p>\n<p>A week later, Minerd doubted that Bitcoin <a href=\"https:\/\/forklog.com\/en\/news\/guggenheim-partners-institutions-wont-keep-bitcoin-at-30000\">would hold the $30,000 level<\/a>.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog Feed<\/a> \u2014 full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The investment director of Guggenheim Partners, Scott Minerd, revised his prior forecast regarding Bitcoin&#8217;s long-term prospects. In an interview with CNN he said the price of the first cryptocurrency could rise to $600,000.<\/p>\n","protected":false},"author":1,"featured_media":35861,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1146,2036],"class_list":["post-35860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-cryptocurrency-market-forecasts","tag-guggenheim-partners"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/35860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=35860"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/35860\/revisions"}],"predecessor-version":[{"id":35862,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/35860\/revisions\/35862"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/35861"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=35860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=35860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=35860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}