The $ 310 billion global investment company, Guggenheim Partners, can finally put up to 10% of its Macro Opportunity Fund in shares of the Grayscale Bitcoin Trust to gain indirect exposure to the world's largest cryptocurrency.
The effects of his document sent to the United States Securities and Exchange Commission (SEC) – first released in late November – went into effect on Monday.
Will Guggenheim CIO Scott Minerd stop trying to bring down the price of Bitcoin?
After publicly revealing his incredibly optimistic Bitcoin goal at $ 400,000 in a passing comment in December, Guggenheim's CIO, Scott Minerd, apparently "changed his mind" about the cryptocurrency.
Throughout January, he used to appear on major business news channels, like Bloomberg and CNBC, to talk about Bitcoin.
On January 11, he tweeted that the cryptocurrency's upward parabolic trend was “unsustainable” and later said it would drop to $ 20,000 on CNBC's “Closing Bell”.
In his most recent Bitcoin interview with Bloomberg, he opined that there was not enough institutional demand to avoid a major correction.
What is behind this sudden change in your tone? Cryptocurrency economist and analyst Alex Krüger assumed that Minerd wanted to convince his audience to sell earlier so that Guggenheim could buy cheaper.
Now that the financial services giant can finally get into the game, it remains to be seen whether Minerd will change his tone in the coming weeks.
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