Scott Minerd, the Chief Investment Officer of Guggenheim Partners and a top Wall Street banker, died of a heart attack on Wednesday at 63. He was known in the crypto markets for his constantly changing predictions about the price of bitcoin.
In a statement on Thursday, the company said that he had died. He was often on CNBC, a cable network for business news. The statement said that he was now the public speaker for Guggenheim and that he was also a senior leader and a mentor.
CEO Mark Walter said in the statement, “Scott was a key innovator and thought leader who helped build Guggenheim Investments into the global business it is today.”
Minerd was known among executives in traditional finance for being willing to make bold predictions about the price of bitcoin (BTC), some of which were quite extreme and usually had mixed results.
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For example, when bitcoin was worth about $20,000 in December 2020, he said it “should be worth around $400,000.” The highest price for BTC was around $69,000 late last year. In January 2021, it was just above $40,000.
When bitcoin was worth about $29,000 in May, he told CNBC that it could fall to $8,000. It costs about $16,600 now.
Last week, he told Bloomberg Television that there was “another shoe to drop” after Sam Bankman-FTX Fried’s cryptocurrency exchange failed last month.
He told the channel, “This is just like other times when we had easy money and a lot of speculation.” “The worst players go down first. It was clear that Crypto was something crazy.”
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