Guggenheim Global's CIO, Scott Minerd, among the more respective names to lend support for Bitcoin (BTC-USD) over the past year, is recognizing that the move may have gone too far in the short term.After tripling in 2020, Minerd, in an interview on Bloomberg TV Friday, pointed to his tweet earlier in the week in which he recommended people "take some money off the table," noting that the currency's "parabolic rise" was "unsustainable" in the near term. Part of his rationale, he said in the interview, was the "sudden interest" from retail investors and that we had moved into a "speculative frenzy" near term.He clarifies that his $400,000 target was based off his analysis of gold, and that crypto is more desirable than that metal.Minerd, who manages the $5.3B Guggenheim Macro Opportunities Fund (GIOIX, GIOAX), played a part in the November announcement that the firm would allow the fund to put up to 10% of
