Scott Minerd, chief investment officer of the multi-billion dollar investment firm Guggenheim Partners, believes bitcoin may struggle to stay above $30,000.

In an interview with Bloomberg Television on Wednesday, Minerd said he didn’t think bitcoin‘s institutional investor base was “big enough” or “deep enough” to justify its current valuation. The comments come weeks after he publicly declared bitcoin’s price should be in the hundreds of thousands of dollars.

“Right now, the…

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