DoubleLine Capital CEO on Bitcoin: “Wouldn’t Be Surprised at All if It Went to $10,000”

On Wednesday (June 15), Jeffrey Gundlach, the Founder and CEO of investment management firm and investment adviser DoubleLine, shared his thoughts on the Bitcoin price.

Here is some information about Gunlach taken from his bio on the DoubleLine website:

In 2011, he appeared on the cover of Barron’s as ‘The New Bond King.’  In 2013, Institutional Investor named him ‘Money Manager of the Year.’  In 2012, 2015 and 2016, he was named one of ‘The Fifty Most Influential’ in Bloomberg Markets.  In 2017, he was inducted into the FIASI Fixed Income Hall of Fame.  Mr. Gundlach is a summa cum laude graduate of Dartmouth College, with degrees in Mathematics and Philosophy.

DoubleLine, which is headquartered in Tampa, Florida, had over $122 billion in Assets Under Management (AUM) as of 31 March 2022.

The DoubleLine CEO made his comments about Bitcoin during an interview on CNBC’s “Closing Bell: Overtime“, which is hosted by Scott Wapner, at a time when Bitcoin was trading around $21,500.

When Wapner asked how low the price of Bitcoin could go, the DoubleLine CEO replied:

Well, when it broke below $30,000, it looked on a chart basis that $20,000 was going to happen really quickly and it did, but the trend in crypto is clearly not positive.

I mean, it topped out a long time… I remember I was with you in July of last year and Bitcoin was up at, like, $60,000 or something. And then it dropped down to $30,000… it managed to rally back, but it looks like it’s being liquidated.

So, I’m not bullish at $20,000 or $21,000 on Bitcoin, and I wouldn’t be surprised at all if it went to $10,000.

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