The Bitcoin rate could rise to $400-600 thousand in the long term, the investment director suggestedinvestment company Guggenheim Partners Scott Minerd.In an interview with CNN, he stated that there is still "a lot of space" for the continued growth of the first cryptocurrency, given the limited emission of BTC and compared with gold in this indicator.
“We have conducted many fundamentalresearch. If we consider the supply of bitcoin in relation to, say, the supply of gold and its total value, and bitcoin rises to similar values, we will talk about $ 400,000 - 600,000 per bitcoin "- said Minerd in a conversation with CNN.
«Cryptocurrency has come into the realm ofrespectability & will continue to become more and more important in the global economy.» @ScottMinerd talks $GME / $SLV / $BTC and the logic of bubbles versus buying frenzy. pic.twitter.com/ZWoZqZNU2M
- Julia Chatterley (@jchatterleyCNN) February 2, 2021
In December, Minerd already named the lower limitof this range as a potential target for bitcoin, but subsequently switched to bearish forecasts. As analyst Alex Kruger suggested, Minerd is trying to bring down the price ahead of his company's purchase of bitcoin, as it rose unexpectedly high before the entry into force of the necessary application from Guggenheim Partners to the US Securities and Exchange Commission (SEC).
The application was submitted in November and came into force on 31January, allowing Guggenheim Partners to invest 10% of their Macro Opportunities fund, or $ 500 million, in a Bitcoin trust company Grayscale Investments. In total, the company manages assets for more than $ 300 billion. On February 1, an outflow of 14,466 BTC worth about $ 500 million was noticed from the Coinbase exchange, used by the Genesis Trading platform to buy cryptocurrency, whose client, in turn, is Grayscale.
“The big churn from Coinbase yesterday could be driven by Guggenheim Partners. In this case, they entered at a price of $ 32,400 "- said the CEO of the analytical firm CryptoQuan Ki Yong Zhu.
The only flaw in this theory is that Grayscale Bitcoin Trust's reported assets have only gained 1,823 BTC over the past week.
During the last interview, Minerd also revealed that they have been interested in Bitcoin for almost 10 years, but until recently the market was not large enough for such large investors.
"As bitcoin's market capitalization got bigger, around $ 10,000, it started to look very interesting."- explained Minerd.
At the same time, CIO Guggenheim Partners noted that the rise in the rate from $ 20,000 to $ 40,000 in one month indicates short-term speculation.
"Now the air is coming out of this speculativerise, and money moves to other places. Today I see no institutional support coming from investors like BlackRock and Guggenheim. Bitcoin has rolled back 50% many times, and I wouldn't be surprised if that happens again. "- he added.
Minerd also mentioned Elon Musk's attention to bitcoin, stressing that the founder of Tesla and SpaceX "has definitely established himself as a visionary."
"I think cryptocurrency has really entered the area of respectability and will continue to become more and more important in the global economy.", - he summed up.
Where is it more profitable to buy bitcoin? TOP-5 crypto-exchanges
For a safe and convenient purchase of cryptocurrency, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that supportDeposit and withdrawal of funds inrubles, hryvnias, dollars and euros.
The most reliable platforms with the largest cash turnover have been for several yearsthe largest cryptocurrency exchange in the world is Binance.Binance is the most popular crypto exchange in the CIS, as it hasmaximum trading volumes and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.
Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?
| # | Cryptocurrency exchange | Official site | Site evaluation |
|---|---|---|---|
| 1 | Binance (Editor's Choice) | https://binance.com | 9.7 |
| 2 | Huobi | https://huobi.com | 7.5 |
| 3 | Exmo | https://exmo.me | 6.9 |
| 4 | Yobit | https://yobit.net | 6.3 |
| 5 | OKEx | https://okex.com | 6.1 |
The criteria by which the rating is set in our rating of crypto-exchanges:
- Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
- Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
- Feedback and support– we analyze user reviews and the quality of technical support.
- Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
- Platform Features– availability of additional features — futures, options, staking, etc.
- final grade– the average number of points for all indicators determines the place in the ranking.
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