In his last interviews, Scott Minerd predicted that $8,000 would be a bottom for Bitcoin's (BTC) price in this cycle and called for a better regulation of crypto.
Wall Street legend Scott Minerd passes away
According to an official statement made by Guggenheim Partners, a global advisory and asset management heavyweight, its CIO and managing partner Scott Minerd suddenly died aged 63 on Wednesday, Dec. 21. He suffered a heart attack during his regular workout.
With great sadness, we mourn the passing of Scott Minerd, our leader, colleague, and friend. pic.twitter.com/CCsTyGGOBc— Scott Minerd (@ScottMinerd) December 23, 2022
Minerd joined Guggenheim Partners shortly after the team was formed in 1999. In 1980-1990s, he held fixed income trading and risk management roles in leading financial firms, including the likes of Credit Suisse First Boston and Morgan Stanley. He was also a member of the Federal Reserve Bank of New York's Investor Advisory Committee on Financial Markets.
Besides being a veteran investor and manager, Minerd was known as one of the most visible Wall Street speakers on financial markets thanks to his frequent appearances on TV, radio and social media.
Mark Walter, CEO and founder of Guggenheim Partners, highlights the role of Minerd's leadership in building the firm and its unique asset management strategy:
I have known Scott for over 30 years and we were partners much of that time. Scott was a key innovator and thought leader who was instrumental in building Guggenheim Investments into the global business it is today. He will be greatly missed by all. My deepest condolences are with his husband, family and loved ones
Billionaire investor Bill Ackman of Pershing Square Capital Management remembers Minerd as an old-school businessman and a cheerful person:
I am deeply saddened to hear about Scott Minerd's death. He was a brilliant man whom I got to know in the last five or so years. He was an old fashioned handshake businessman whose word was his bond. He was also a lot of fun
Scott Minerd also recruited many Guggenheim Partners top managers and mentored the majority of them.
Anne Walsh assumes Minerd's responsibilities on interim basis
Leaders of Guggenheim Partners said that Anne Walsh, a managing partner and the CIO of Guggenheim Partners Investment Management, will perform Minerd's duties on an interim basis.
Minerd also frequently commented on Bitcoin (BTC) and other major cryptocurrencies. In 2021, he made headlines with an uber-bullish $400,000 Bitcoin (BTC) prediction.
However, in latest interviews about cryptocurrencies, he warned listeners about a possible Bitcoin (BTC) plunge to $8,000 in the short term. He also urged the U.S. authorities to elaborate a viable regulatory framework for digital assets after the FTX collapse.
U.Today sends heartfelt condolences to Minerd's family, friends and colleagues.