Bitcoin hyperbole is back – and better than ever. As the cryptocurrency rallied by nearly 50% in December – before starting 2021 by touching a new record above $34,000 – an informal year-end competition developed to see who could make the most eye-catching prediction about how high the price could go.
Guggenheim Investments chief investment officer Scott Minerd was an early frontrunner in the contest when he went on Bloomberg TV to say that his firm’s fundamental analysis showed that bitcoin should be worth $400,000.
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