Fundamental valuation of Bitcoin is USD 400,000
Guggenheim Global Chief Investment Officer Scott Minerd comments on Wednesday in a Bloomberg interview
(Scott Minerd is the chief investment officer for $5.3bn Guggenheim Macro Opportunities Fund)
- says his team's fundamental work suggests Bitcoin should be worth $400K
- "It's based on the scarcity and relative valuation such as things like gold as a percentage of GDP. So you know, Bitcoin actually has a lot of the attributes of gold and at the same time has an unusual value in terms of transactions."
Its no secret the fund likes BTC, this from about 3 weeks agaio:
BTC has been on a roll, fresh highs Wednesday US time:
And, its gone higher since: