• Scott Minerd, the Chief Investment Officer of Guggenheim Partners and a popular crypto forecaster, has passed away after suffering a heart attack during a workout.
• Numerous industry veterans, including Mark Walter and Brian Moynihan, have paid tributes to him.
• Minerd was a well-known commentator on financial and crypto markets, and had recently predicted that Bitcoin could fall to $8,000.
It is with great sadness that we report the passing of Scott Minerd, the Chief Investment Officer of Guggenheim Partners and a popular crypto forecaster. Minerd, 63, suffered a heart attack during a regular workout on Wednesday, leaving the industry in shock.
Guggenheim Partners is a global investment and advisory firm with more than $285 billion in assets under management. The company specializes in investment banking, asset management, capital markets services, and insurance, and Minerd had been with the firm for the past 25 years. In his role, he was also managing partner at Guggenheim.
Minerd was a prolific commentator on financial and crypto markets, and was often quoted by the media. He had garnered a reputation as one of the US ‘bond kings’ and had made accurate predictions in the past. 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.
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.”
The untimely death of Scott Minerd is a tragic loss for the crypto and financial markets. He was a key innovator and thought leader who helped to build Guggenheim Partners into the global business it is today. He will be greatly missed by all and our thoughts and condolences are with his family and loved ones.