SwanBitcoin445X250

HTTP/2 200 date: Mon, 11 Jan 2021 20:06:39 GMT content-type: text/html; charset=UTF-8 set-cookie: __cfduid=dc8add018f633024a18eeed5c22b3f9e51610395598; expires=Wed, 10-Feb-21 20:06:38 GMT; path=/; domain=.ambcrypto.com; HttpOnly; SameSite=Lax; Secure vary: Accept-Encoding x-powered-by: PHP/7.3.7 cf-edge-cache: cache,platform=wordpress x-pingback: https://ambcrypto.com/xmlrpc.php link: ; rel="https://api.w.org/" link: ; rel="alternate"; type="application/json" link: ; rel=shortlink x-frame-options: SAMEORIGIN cf-cache-status: DYNAMIC cf-request-id: 0794a7d88c0000381ebb2f7000000001 expect-ct: max-age=604800, report-uri="https://report-uri.cloudflare.com/cdn-cgi/beacon/expect-ct" report-to: {"endpoints":[{"url":"https:\/\/a.nel.cloudflare.com\/report?s=ykmDBqs9X90xAoG9uHbYLaFH1TSuh9pSHRvIGT5iV4p6e9nhcEprivBbECR9OxluaHuwctCrLIljN%2Bw%2FX56vxI0ZRcYHIe58N5nKgpt0"}],"group":"cf-nel","max_age":604800} nel: {"report_to":"cf-nel","max_age":604800} server: cloudflare cf-ray: 6101426daf29381e-IAD Will this investor take ‘money off the table’, after this bitcoin dip? - AMBCrypto

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Global Chief Investment Officer of financial services company Guggenheim Partners, Scott Minerd, stated [1]that amid Bitcoin’s parabolic rise that saw new ATHs of over $40k, the asset was “unsustainable in the near term.” He claimed that the digital asset’s price was “vulnerable to a setback”. He added:

“The target technical upside of $35,000 has been exceeded.  Time to take some money off the table.”

On 29 November, Guggenheim Partners filed a document with US SEC to enable the firm’s Macro Opportunities Fund to place millions of dollars in the popular crypto. According to the document[2] the fund would use digital asset manager Grayscale to spend 10% of its net assets on Bitcoin. The doc had stated:

The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly investing up to 10% of its net asset value in Grayscale Bitcoin Trust “GBTC.”

This fund had roughly $5 billion in AUM according to reports.[3] Meaning, the purchase would be worth $500 million, provided that the plans to allocate 10% of the aforementioned amount into the crypto, take shape.

Additionally, crypto influencer and self-claimed economist, Alex Krüger alleged [4]in a subsequent Twitter comment that Scott Minerd wanted users “to dump” their holdings that would allow Guggenheim Partners to purchase Bitcoin when its price is lower, to say the least:

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