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Guggenheim's Scott Minerd Is Perplexed by Shiba Inu Boom

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Mon, 10/18/2021 - 19:36
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Alex Dovbnya
After a series of failed Bitcoin predictions, Scott Minerd cannot figure out what’s driving Shiba Inu’s wild price action
Guggenheim's Scott Minerd Is Perplexed by Shiba Inu Boom
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During a recent interview with CNBC’s Brian Sullivan, Guggenheim Partners CIO Scott Minerd spoke about missing out on the Shiba Inu rally.

The executive of the $325 billion investment firm wishes he had invested a hundred thousand into SHIB:

Back in February or March, if you’d invested a thousand dollars into Shiba Coin, you would have $2.1 million today…I wish I’d invested a hundred thousand.

Yet, Minerd appears to be perplexed by SHIB’s rise, urging those who don’t understand the market to get out of it:

If you don’t understand what’s happening, get out of the market.

Last week, Scion Asset Management head Michael Burry slammed Shiba Inu as “pointless” because of its gigantic supply.

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Minerd gained notoriety for his Bitcoin price predictions within the cryptocurrency space.

As reported by U.Today, the 62-year-old Pennsylvania native infamously forecasted that $10,000 could be Bitcoin’s “real bottom” in late June.

The largest cryptocurrency is up 94% since that comment.      

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.