CIO Guggenheim Partners regrets not having invested in SHIB soon
Scott Minerd, chief investment officer of Guggenheim Partners, a firm that manages over $ 233 billion in assets, said he regrets not getting into the meme-inspired cryptocurrency Shiba Inu (SHIB ) to have invested.
In an interview with CNBC, Minerd said he wished time could go back to making an investment decision in SHIB earlier this year when it was trading near a low.
“If you invested $ 1,000 in Shiba Coin in February or March, you would have $ 2.1 million today … I wish I had invested $ 100,000.”
The CIO said he was confused about the price performance of the meme coin, which helped it become the 10th largest cryptocurrency by market cap. Minerd noted that he does not “fully understand” the crypto market, adding that as a bond trader, he has learned to stay out of the market “if he does not understand it.”
As early as December 2020, Minerd stated that Bitcoin “should be worth around $ 400,000,” while the CIO pointed to a price target of $ 600,000 in February of this year based on Guggenheim fundamental analysis. In April, he expects BTC to drop to the target of $ 20,000-30,000.
Notably, Shiba Inu saw prices skyrocket after a retail FOMO frenzy was aided by a massive circulating supply of the cryptocurrency that suffered a token burnout.
The trading volume of cryptocurrencies has grown to the level of Ethereum after Elon Musk, CEO of Tesla and SpaceX, said he doesn’t own a SHIB and only buys BTC, ETH and DOGE.
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According to Cryptogloble