Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC
The Guggenheim Macro Opportunities Fund will now be able to invest up to 10% of its net asset value in the Grayscale Bitcoin Trust.
Scott Minerd said he doesn't believe bitcoin's investor base is "big enough" or "deep enough" to keep the price at current levels.
Guggenheim Partners CIO says bitcoin could retrace all the way back to $20,000.
Bitcoin has potential to support a huge long-term valuation but there isn't enough institutional involvement now, said Scott Minerd.
A recap of 5+ insanely bullish stories that got buried in the bitcoin price action.
Minerd based his analysis on bitcoin's scarcity and relative value to gold.