Skip to content
June 25, 2022
  • Facebook
  • Twitter
  • YouTube
  • Instagram
  • Reddit
  • Telegram
  • TikTok
  • LinkedIn
Orinoco Tribune – News and opinion pieces about Venezuela and beyond

Orinoco Tribune – News and opinion pieces about Venezuela and beyond

From Venezuela and made by Venezuelan Chavistas

Primary Menu
  • News
  • Opinion
  • About us
    • About us
    • Who we are – Becoming a Volunteer
    • Editorial guidelines for contributors
    • Our Sources
      • Venezuelan Sources
      • International Sources
    • Contact us
  • Categories
    • Politics
    • Economy
    • Security and Defense
    • International
      • Africa
      • Asia
      • Europe
      • Oceania
      • US/Canada
    • Latin America and ALBA-TCP
      • South America
      • Central America and the Caribbean (+Mexico)
    • Ideology-Commune-Labor
    • Health-Education-Sport-Culture-Technology
    • Solidarity and Social Movements
    • OT Originals
  • Support Us
    • Tax Deductible Donations: AfGJ Fiscal Sponsorship Program
    • Patreon (recurrent donations)
    • PayPal and Credit Cards
Light/Dark Button
YouTube Channel
  • Home
  • News
  • Bitcoin Should be Worth $400,000 Based on Its Scarcity – Guggenheim CIO
  • International
  • News
  • US/Canada

Bitcoin Should be Worth $400,000 Based on Its Scarcity – Guggenheim CIO

December 21, 2020

December 19, 2020-  The world’s most popular cryptocurrency, bitcoin, should be worth about 20 times more than it is now, based on its scarcity and value relative to gold, according to Guggenheim’s Global Chief Investment Officer (CIO) Scott Minerd.

Minerd told Bloomberg that the supply of bitcoin is limited to 21 million coins, giving it its anti-inflationary trademark. He said that the token’s scarcity, together with the Federal Reserve’s “rampant money printing” suggest its price should rise to $400,000.

“Our fundamental work shows that bitcoin should be worth about $400,000. It’s based on the scarcity and relative valuation such as things like gold as a percentage of GDP,” Minerd said.

RELATED CONTENT: Bitcoin Reaches New All-Time High Exceeding $23,000

Guggenheim is among the institutional players that is validating bitcoin’s legitimacy as a reserve asset. Last month, the firm filed to reserve the right for 10 percent of its $5.3 billion Macro Opportunities Fund to invest in Grayscale Bitcoin Trust, a bitcoin-focused investment vehicle.

On Thursday, bitcoin broke above $23,000 and has stayed close to that level since then. Analysts attributed the surge to increased demand from institutional investors, such as Paul Tudor Jones and Stanley Druckenmiller.

Earlier this week, the operator of the Chicago Board Options Exchange announced plans to launch cryptocurrency indexes next year in partnership with CoinRoutes, a trading software firm based in New York. The exchange is set to provide data for several cryptocurrencies with high market caps.

 

 

Featured image: © Pixabay.com

(RT)

Want More?

Don't want to be a victim of the Algorithm?

SIGN UP TO RECEIVE OUR WEEKLY NEWSLETTER WITH ALL YOU NEED TO KNOW ABOUT VENEZUELA

We don’t spam! Read our privacy policy for more info.

Editor2
+ posts
  • Editor2
    https://orinocotribune.com/author/yullma/
    Japan urged to scrap law forcing transgender people to be sterilised before they can transition
  • Editor2
    https://orinocotribune.com/author/yullma/
    South Africa: Parliament Votes in Favor of Land Expropriation Without Compensation
  • Editor2
    https://orinocotribune.com/author/yullma/
    Haiti suspends fuel price hike after deadly protests
  • Editor2
    https://orinocotribune.com/author/yullma/
    US only country in the world to vote against work of UN refugee agency
Tags: Bitcoin cryptocurrency Guggenheim CIO Scott Minerd

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Telegram (Opens in new window)
  • Click to email a link to a friend (Opens in new window)

Continue Reading

Previous Previous post:

Tension Grows: Chinese Aircraft Carrier Passes Through Taiwan Strait

The Chinese aircraft carrier departs Dalian, Liaoning Province (northeast), May 13, 2018. (Photo: Reuters)
Next Next post:

President Maduro Reiterates Call to Comply with COVID-19 Biosafety Protocols Amid Increase in Cases

Tax deductible donations

One time donations

Recurrent donations

Calendar

June 2022
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930  
« May    

NEWS: Most Viewed 72 Hours

Categories

Subscribe to Our Weekly Newsletter

We keep your data private and share your data only with third parties that make this service possible. Read our Privacy Policy.

Check your inbox or spam folder to confirm your subscription.

OPINION: Most Viewed 72 hours

We are on Telegram


Receive our news directly in your cellphone or PC, join us on our TELEGRAM channel: https://t.me/OrinocoTribune1

Download TELEGRAM, click the link above and then press the JOIN button.

We are Copyleft not Copyright


Creative Commons License
All Orinoco Tribune's work is free to use and licensed under a Creative Commons Attribution 4.0 International License.

We are on Reddit


If you are more into REDDIT, join our Orinoco Tribune Community.
Just click below and then click JOIN
https://www.reddit.com/r/OrinocoTribune/

 

  • Facebook
  • Twitter
  • YouTube
  • Instagram
  • Reddit
  • Telegram
  • TikTok
  • LinkedIn
Copyleft, No rights reserved.