Earlier today (18th
July), Marc Lasry spoke to CNBC on the morning news show ‘Squawk Box’ regarding how he can see the Bitcoin
price rising to $40,000 or more within the next few years.
The CEO and billionaire co-founder or hedge fund Avenue Capital Group, not to mention co-owner of the Milwaukee Bucks in the NBA, spoke to CNBC saying that he can envision the Bitcoin price reaching at $40,000 or more as the cryptocurrency
gets a wider adoption which makes it easier to trade.
He went on to say:
“You are hoping that as it gets more into the mainstream and as more markets allow it to trade where it’s freely tradable, to me, that’s more the market bet. I think then you will start seeing the price of it as it’s easier for people to buy. I think then you will have something that will end up being somewhere around $20,000-$40,000.”
The hedge fund that Lasry founded with his sister, Sonia Gardner, Avenue Capital Group has its main base of operations in New York and specialises in distressed debt as well as other unique situation investments
. As of 30th
June, this year, Lasry’s company had around $9.6 billion worth of assets under management.
When asked about hi own interest in Bitcoin, Lasry simply went on record to say:
“It was just something I wanted to invest in… it’s speculative… it’s absolutely my personal money… I bought a lot more, I would say, in the last year, when probably the average price would be somewhere around $5000-$7500… the reason I like Bitcoin is it’s the one where everyone is going to come to… everyone else is trying to make bets on different cryptos, which I think actually makes sense.”
In December last year, Lasry explained to CNBC that he DID regret not buying Bitcoin sooner, saying he should’ve bought it sooner when the price was $300 just a couple of years ago.
“The only thing I am upset about is why didn’t I buy it when it was at $300 or $500… then I wanted to start buying it personally when it hit around $9,000-$10,000 [and] I was like, ‘I’ll just wait for it to take a little dip’ and it hasn’t taken a dip.”
Featured Image Original Source: Wikipedia Commons