• Scott Minerd, Chief Investment Officer of Guggenheim Partners, died Wednesday after a heart attack at the age of 63.
• Minerd was known for his ever-shifting calls on bitcoin’s price, most notably predicting that it could reach $400,000 in late 2020.
• Most recently, Minerd told Bloomberg Television that there was “another shoe to drop” from last month’s collapse of Sam Bankman-Fried’s FTX crypto exchange.
Guggenheim Partners Chief Investment Officer Scott Minerd passed away on Wednesday due to a heart attack. He was 63 years old. Minerd was a key innovator and thought leader who was instrumental in building Guggenheim Investments into the global business it is today, according to CEO Mark Walter.
Minerd was also a regular presence on the financial-news cable network CNBC, and had become the public speaker for Guggenheim in addition to being a senior leader and mentor. He had a penchant for making waves in crypto markets due to his ever-shifting calls on bitcoin’s price.
In December 2020, when bitcoin was trading around $20,000, Minerd predicted that the cryptocurrency „should be worth around $400,000.“ The BTC price climbed to just above $40,000 in January 2021 and peaked around $69,000 late last year. In May, when bitcoin was around $29,000, he told CNBC it could fall to $8,000. It is currently around $16,600.
Recently, Minerd told Bloomberg Television that there was “another shoe to drop” from last month’s collapse of Sam Bankman-Fried’s FTX crypto exchange. He said that this is just like any number of periods where we had easy money and a lot of speculation and that the weakest players fall first.
Minerd was an influential and important member of the financial industry and will be greatly missed by all who knew him. His legacy will remain as his contributions to the world of finance have been significant and have left a lasting impact.