Scott Minerd, the CIO of Guggenheim Partners which manages over $270 billion, said that, while crypto is a volatile asset, it is the paradigm of the future.
Don’t miss out on how smart money is playing the crypto game. Subscribe to our premium newsletter - Crypto Investor.
"Crypto will continue to be volatile, but as a paradigm it is the future," said Minerd in a tweet.
Minerd had a series of tweets related to the global payments system, the Federal Reserve, inflation and cryptocurrency.
He noted that the potential for an attack on our payments infrastructure is one of the largest external threats to the financial system as a whole.
"The possibility of an attack on the global payments system is one of the biggest exogenous risks to the stability of the financial system."
Minerd said that he is actually positive about inflation and that the shrinking workforce, slowing birthrate and adoption of technology will end up being deflationary.
"Why am I so sanguine about #inflation? 3 words: Demographics, debt, and technology. Our shrinking workforce, slowing birthrate, rising debt loads, and adoption of technology that improves economic productivity (which increased during the pandemic) are all deflationary."
He also said that Guggenheim has seen no evidence that inflation is contributing to increases in prices and that the bond bull market is over.
This story is developing.