Bitcoin should be worth $400,000 based on its scarcity – Guggenheim CIO ...News

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

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