Scott Minerd Regrets not Investing in Shiba Inu

Scott Minerd, the chief investment officer at Guggenheim Partners, regrets missing a lucrative opportunity. He revealed that he had watched many different types of investments go up in value over time but missed one spot – Shiba Inu.

Minerd has always been an avowed believer in cryptocurrency. But, he regrets not investing $100k when Shiba Inu was worth less than it is today. By then, some people were expressing doubts about its future as a currency. Or even if it would be around long enough to serve that purpose at all.

“Back in February or March, if you’d invested a thousand dollars into Shiba Coin, you would have $2.1 million todaY. I wish I’d invested a hundred thousand,” said Minerd.

Scott Minerd Doesn’t fully understand cryptos

Despite the token’s meteoric rise, Minerd still cannot make sense of it. He said that he doesn’t “fully understand” crypto markets. He further admitted its confusing with their rapid change in price over a short period time frame.

“The one thing I learned as a bond trader years ago when you don’t understand what’s happening, get out of the market,” he said.

In December, the Guggenheim CIO put a $400,000 price target on Bitcoin. Yet, he revised it to $600 thousand in February 2021, citing fundamental research. In April, Minerd predicted that bitcoin could fall as low as 20k and called an “irrational bubble.”

Minerd, a cryptocurrency expert, predicts the majority of cryptos on the market today will fail. It’s no secret that cryptos are facing scrutiny from governments and financial institutions alike.

“Seventy percent of the coins are garbage and will go away,” he said.

Bitcoin hit an all-time high of $66,930 on Wednesday. At the time of writing, it was trading at $64,000 per coin.

When writing this, SHIB was trading at $0.00002867, gaining 2.66% over 24 hours.

Shiba Inu Investor Makes $5.7 Billion

Elsewhere, The Shiba Inu coin has turned regular investors millionaires overnight within a year. The cryptocurrency’s run hasn’t stopped yet, with its value up +700% since the first week of October 2021 and continuing to climb higher day by day.

More data from Etherscan reveals an anonymous investor who purchased $8,000 worth of SHIB coins in August 2020. The 14-month investment has produced over 5 billion dollars, less than 400 days after purchase. This humongous growth is due to the mystery buyer’s incredible +94M% return on their initial capital.

Morning Brew took to Twitter with the snapshot of a wallet address. The business news firm took to Twitter with the snapshot of a unique wallet address and captioned it.

” This wallet bought roughly $8,000 of $SHIB last August. It’s now worth $5.7 billion. From $8,000 to $5.7 billion in roughly 400 days. We may actually be looking at the greatest individual trade of all time.”