Billionaire Marc Lasry: Bitcoin Could Go Up To $40000
With Bitcoin’s price on a bit of a tear-away currently, gaining over $1,000 in 24 hours as good news swirls, billionaire investor Marc Lasry has made a big price prediction. The institutionalized investor sees the key to Bitcoin’s growth in price in its ability to gain more mainstream appeal.
Hedge fund manager Marc Lasry told CNBC’s Squawk Box on Wednesday that he sees BTC trading from $20,000 to as high as $40,000 as it goes mainstream. The billionaire investor specified that this level could be reached in a few years as the cryptocurrency becomes easier to trade and accepted in different regions of the world.
Lasry notes how that while Bitcoin has made it into the mainstream, with its monumental price rise in December, it still has a way to go. But if it can continually become easier for investors to use and buy, it will rise.
“As it gets more into the mainstream, and as more markets end up allowing it to trade where it’s freely tradable, to me that’s more of the bet,”
Lasry, who is co-founder and CEO of investment firm Avenue Capital Group, revealed that he had invested about 1% of his personal funds in Bitcoin, which happened a few years ago. However, in December, as BTC rallied and touched $20,000 on several cryptocurrency exchanges, the investor regretted that he hadn’t bought the coin sooner, when it was at around $300.
When queried about Bitcoin’s role in the future, and where it will be heading, Lasry noted:
“The reason I like Bitcoin is it is the one that everyone is going to come to. When you look at everything else, everybody else is trying to make bets on different cryptos, which I actually think makes sense. I just think that the one that is going to have the biggest market benefit is going to be Bitcoin.”
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