Earlier today (18th July), Marc Lasry spoke to CNBC on the morning news show âSquawk Boxâ 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:
âYou are hoping that as it gets more into the mainstream and as more markets allow it to trade where itâs freely tradable, to me, thatâs more the market bet. I think then you will start seeing the price of it as itâs easier for people to buy. I think then you will have something that will end up being somewhere around $20,000-$40,000.âThe 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, Lasryâs 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:
âIt was just something I wanted to invest inâ¦ itâs speculativeâ¦ itâs absolutely my personal moneyâ¦ I bought a lot more, I would say, in the last year, when probably the average price would be somewhere around $5000-$7500â¦ the reason I like Bitcoin is itâs the one where everyone is going to come toâ¦ everyone else is trying to make bets on different cryptos, which I think actually makes sense.âIn December last year, Lasry explained to CNBC that he DID regret not buying Bitcoin sooner, saying he shouldâve bought it sooner when the price was $300 just a couple of years ago.
âThe only thing I am upset about is why didnât I buy it when it was at $300 or $500â¦ then I wanted to start buying it personally when it hit around $9,000-$10,000 [and] I was like, âIâll just wait for it to take a little dipâ and it hasnât taken a dip.âFeatured Image Original Source: Wikipedia Commons