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Scott Minerd, the chief investment officer of multinational investment company Guggenheim Partners, has passed away. Minerd was well-known in the cryptocurrency industry as a popular crypto forecaster.
In a press release on Thursday, the company confirmed the news, saying that Minerd, 63, suffered a heart attack during his regular workout on Wednesday.
Guggenheim Partners is a global investment and advisory firm with more than $285 billion in assets under management. The company specialized in investment banking, asset management, capital markets services, and insurance.
Minerd, who has been at the firm for the past 25 years, became a prolific commentator on financial and crypto markets and was often quoted by the media. He also held the role of managing partner at Guggenheim.
As the community mourns the untimely death of the analyst, some industry veterans have sent their condolences. Mark Walter, chief executive and a founder of Guggenheim Partners, said in the firm’s statement:
“Scott was a key innovator and thought leader who was instrumental in building Guggenheim Investments into the global business it is today. He will be greatly missed by all. My deepest condolences are with his husband, family and loved ones.”
Other top Wall Street figures have also paid tributes to him. “Scott was a great colleague who called them as he saw them,” said Brian Moynihan, chief executive of Bank of America Corp. “We will miss him.”
Billionaire investor William Ackman said on Twitter:
“I am deeply saddened to hear about ScottMinerd’s death. He was a brilliant man whom I got to know in the last five or so years. He was an old fashioned handshake businessman whose word was his bond. He was also a lot of fun.”
Minerd, who was regarded as one of the US “bond kings,” will also be remembered for his crypto forecasts. In February last year, Minerd told CNN that he could see Bitcoin, which at the time was trading around $40,000, eventually soar to as much as “$400,000 to $600,000.”
However, in late May, he predicted that Bitcoin could fall to $8,000 from its current level of around $30,000 amid the broader crypto market meltdown.
He also recently discussed the collapse of FTX, once the third-largest crypto exchange in the world, in a televised interview. At the time, he said many more crypto companies would declare bankruptcy or cease operations due to the FTX epidemic spreading throughout the industry.
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