Bitcoin (BTC-USD) earlier today shot past $20K to a new record high nearly three years to the day after first surpassing that level. It's currently a few dollars above $20.8K.Scott Minerd is the chief investment officer for Guggenheim Investments and manager of the the $5.3B Guggenheim Macro Opportunities Fund ([[GIOIX]], [[GIOAX]]). They made news last month with a rule change which would allow the fund to put up to 10% of its net asset value in the Grayscale Bitcoin Trust (GBTC). Speaking to Bloomberg's Tom Keene today, Minerd says his team's fundamental work suggests Bitcoin should be worth $400K.To say that raised an eyebrow on Tom Keene is putting it lightly, but Minerd says his analysis is based on scarcity and relative valuation to things like gold. Bloomberg quickly threw things over to Jay Powell's conference, which touched upon things like the Fed's role with respect to climate change, its
