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Guggenheim's Scott Minerd, Fickle Bitcoin Forecaster, Dies After Heart Attack
Among Wall Street financiers, Minerd was known for his extreme predictions of the largest cryptocurrency's price, often with mixed success.
Guggenheim Partners Chief Investment Officer Scott Minerd, a top Wall Street financier who made waves in crypto markets for his ever-shifting calls on bitcoin's price, died Wednesday after a heart attack at the age of 63.
The firm announced his death in a statement Thursday. He was a regular presence on the financial-news cable network CNBC. According to the statement, he had become the public speaker for Guggenheim, along with serving as a senior leader and a mentor.
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"Scott was a key innovator and thought leader who was instrumental in building Guggenheim Investments into the global business it is today," CEO Mark Walter said in the statement.
Among investment executives in traditional finance, Minerd was notoriously willing to venture predictions on the bitcoin (BTC) price, some of them quite extreme, and typically with mixed success.
In December 2020, for example, when bitcoin was trading around $20,000, he said that the cryptocurrency "should be worth around $400,000." The BTC price climbed to just above $40,000 in January 2021 and peaked around $69,000 late last year.
In May, when bitcoin was around $29,000, he told CNBC it could fall to $8,000. It's now around $16,600.
As recently as last week, he told Bloomberg Television that there was "another shoe to drop" from last month's collapse of Sam Bankman-Fried's FTX crypto exchange.
"This is just like any number of periods where we had easy money and a lot of speculation," he told the channel. "The weakest players fall first. Crypto was obviously something that is crazy."
Bradley Keoun
Bradley Keoun is CoinDesk's managing editor of tech & protocols, where he oversees a team of reporters covering blockchain technology, and previously ran the global crypto markets team. A two-time Loeb Awards finalist, he previously was chief global finance and economic correspondent for TheStreet and before that worked as an editor and reporter for Bloomberg News in New York and Mexico City, reporting on Wall Street, emerging markets and the energy industry. He started out as a police-beat reporter for the Gainesville Sun in Florida and later worked as a general-assignment reporter for the Chicago Tribune. Originally from Fort Wayne, Indiana, he double-majored in electrical engineering and classical studies as an undergraduate at Duke University and later obtained a master's in journalism from the University of Florida. He is currently based in Austin, Texas, and in his spare time plays guitar, sings in a choir and hikes in the Texas Hill Country. He owns less than $1,000 each of several cryptocurrencies.
