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Source: coindesk.com ·
Guggenheim Partners Chief Investment Officer Scott Minerd shocked Bloomberg TV hosts Wednesday afternoon when he said his firm’s fundamental analysis shows bitcoin should be worth $400,000.
Adam Back - @adam3us
1 month ago
RT @APompliano: Guggenheim out here trying to win the most bullish Bitcoiners on the planet award.
Are you paying attention yet??
https://t.co/qsPactTF6n
55
614
Wong Joon Ian - @joonian
1 month ago
@billbarhydt you should link to the story by @zackvoell ? https://t.co/BW6AeBHkfD
0
1
Pierre Rochard - @pierre_rochard
1 month ago
RT @CoinDesk: Guggenheim CIO Scott Minerd shocked Bloomberg TV hosts Wednesday when he said his firm's fundamental analysis shows bitcoin "should be worth" $400,000 due to its scarcity and relative value to gold.
Report by @zackvoell
https://t.co/NsLUKcnUtm
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342
Pomp - @APompliano
1 month ago
Guggenheim out here trying to win the most bullish Bitcoiners on the planet award.
Are you paying attention yet??
https://t.co/qsPactTF6n
47
510
EmanEsmaeli
Redditor for 2 months. 1 month ago
This will happen eventually but I don't think it will happen next year or in this cycle . Next cycle for sure
1
1162
Mom, grab the camera! I got custom flair! 1 month ago
We truly have reached 2017 in its fullest. Everyone losing their minds saying crypto is a bubble or that it is going to go to exponentially multiply in price any time now.
1
Rutherfnord
Tin 1 month ago
It's not that bitcoin is expensive (measured in $), it is because the USD is just fucked and "cheap".
1
BDM-Archer
Gold | QC: CC 35 1 month ago
When someone controls $230 billion BTC... how is that stored? One poor schmuck with a ledger and passphrase lol? Who "controls the keys" and how the hell does anyone trust them?
1
Stl_alleycat
Low Crypto Activity 1 month ago
Can I volunteer to be the poor schmuck..?
...Please..?
1
hindumafia
Bronze 1 month ago
2021 = 60-80 k.
2023 = 10-20K
2025 = 100-200 k.
2027 = 80-100k
2029 = 400-600 K
1
Helmetowi
Redditor for 3 months. 1 month ago
Hmm anything is possible , but maybe in a few years forsure
1
Cryptoguruboss
Gold | QC: BTC 30, CC 19 1 month ago
Bitcoin has no top so can reach infinity cause fiat has no bottom
18
tastefulsauce
Platinum | QC: CC 115 1 month ago
this is actually true, and probably the end game for bitcoin
the chart will eventually skyrocket to unimaginable numbers, then the chart will just end, because no longer will BTC be measured against USD
12
Andyham
Tin 1 month ago
Until a solar storm or EMP war occurs and 95% of computers are out of operations, and cryptos die overnight.
0
throwaway775849
1 month ago
That is such a crazy scenario, but not a zero probability. What would we measure it against in that situation? Other commodities like gold?
4
Tezalt
Tin 1 month ago
These headlines are indicators of where we are in a bull cycle, in a few months time we will read “Mr. Nobody says Bitcoin will be worth $10,473,164.00 a piece, guaranteed.” and then followed by a crash on price
8
cassydd
Bronze 1 month ago
I still think McAfee missed a trick by not buying a chicken and naming it "Richard".
3
Rellar30
1 month ago
yeah if you expect btc to gain more or less the same status as gold today (only digital) it would be round about the same market cap.
On the other hand there are so many other scenarios where btc won´t (in the slightest) reach the market cap of gold.
So the price of btc might go up, down or stay the same...
10
PM_ME_A_STEAM_GIFT
Tin 1 month ago
> So the price of btc might go up, down or stay the same.
Teach me!
12
Bontai
7 - 8 years account age. 400 - 800 comment karma. 1 month ago
Now that’s a big call. I’d say it’ll never happen though I did that with 20k and now look lol.
26
SatoshiNosferatu
Platinum | QC: CC 91, XMR 23 | NANO 18 1 month ago
I think the target market value is correct for the entire crypto space but would not accrue to only bitcoin. This would be bitcoin at $100-200K with a 25-50% dominance
0
anonymouscitizen2
1 month ago
400K would put Bitcoin marketcap at 8.4 Trillion. That is less than golds marketcap. 400K is absolutely achievable and is a relatively modest projection depending on the timeframe. Sounds like you don’t understand the investment.
17
lomosaur
Platinum | QC: CC 102, XLM 45 1 month ago
Currently, it would cost several hundred million dollars in electricity *per day* to maintain a $400k price level.
6
Cmoz
Gold | QC: BCH 29, CC 21 1 month ago
Bitcoin being that high would *incentivize* more mining rigs being built and more electricity being used, yes. But fundamentally theres no inherent cost of mining necessary to maintain a price level.
4
lomosaur
Platinum | QC: CC 102, XLM 45 1 month ago
You wouldn't have to build new mining rigs. A rapid price increase would make old rigs profitable again. Electrical usage would rise and block rewards would have to be sold to pay for that energy. Outside of halvings, there is no sustained price increase without an increase in network security costs. A $400k price would inevitably lead to hundreds of millions of dollars in costs per day.
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Cmoz
Gold | QC: BCH 29, CC 21 1 month ago
Yes, previously inefficient rigs would come online as well. But still, the price rising doesn’t *depend* on some cost of mining being able to be maintained. The cost of mining is simply an economic consequence incentivized by the value of the block reward available. Mining cost increases don’t drive and are not a prerequisite for token price increases, nor is it required to maintain a price level. You probably already knew that, your post was just worded strangely, so wanted to point that out for anyone reading who might have been confused.
1
lomosaur
Platinum | QC: CC 102, XLM 45 1 month ago
Fair enough, I guess I saw it as a distinction without a difference for the point I was making. I actually find the labor theory of value arguments kind of ridiculous, but as you probably know, many bitcoiners still subscribe to the price follows hash rate theory.
1
BicycleOfLife
1 month ago
Bitcoin will take all the projections and come up with a high that blows everyone’s minds. Which means we could be looking at a couple million.
11
Thevsamovies
1 month ago
Okay I'll be mindblown when 1 BTC = 1 trillion dollars
Let's see if your logic holds up
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