Home News ‘I should have bought a lot more,’ laments billionaire investor on Bitcoin

‘I should have bought a lot more,’ laments billionaire investor on Bitcoin


During his June 8 talk on CNBC’s Squawk Box, billionaire Avenue Capital Management founder Marc Lasry revealed that Bitcoin’s skyrocketing growth in 2021 has exceeded his expectations. He also expressed regret that he had not invested enough in the first cryptocurrency, predicting that the leading cryptocurrency would continue to grow if more and more people start using it.

“I should have bought a lot more — that was my mistake”, he said in a conversation with CNBC.

“I like Bitcoin because everyone will come to it”, Lasry said.

In July 2018, Lasry, who claimed that he had one percent of his fortune in Bitcoin, accurately predicted that by 2021-2023, the capitalization of the first cryptocurrency would grow 5-10 times, that is, that the coin would grow to $ 40,000 if will become more popular. Then he traded at $ 7,400.

Bitcoin hit $ 40,000 for the first time on January 7th. It soared to its current all-time high of $ 64,895 on April 14, before returning back to $ 30,000.

Will Bitcoin rise to $ 100,000 or will it drop to $ 20,000?

After a large-scale correction in Bitcoin, Lasry is unsure where its price is heading next.

Milwaukee Bucks NBA co-owner claims Bitcoin could rise to $ 100,000 or drop back to $ 20,000. While Lasry shares bullish expectations for Bitcoin’s long-term outlook, he admits that arguments can be matched in favor of either of the two possible scenarios. Peter Schiff predicts further decline as Bitcoin returned to the $ 32,000 level earlier today.

However, Lasry also noted that the market has already formed and its existence is unlikely to be threatened. “As Bitcoin more and more enters the mainstream and becomes available for trading in more markets, the bet on cryptocurrencies becomes more correct for me”, said the entrepreneur.

He also noted more than once that investors can count on an increase in their capital by 5-10 times if they keep funds in Bitcoin. Lasry said that he invests his own assets in digital money. And regrets that he didn’t buy the first cryptocurrency when its price didn’t exceed $ 300.

The billionaire considers Bitcoin to be the most promising coin. He is confident that the first cryptocurrency can bring the most income in the long term. Lasry himself invested 1% of his fortune in cryptocurrencies. And given that Lasry’s fortune, according to Forbes, is $ 1.7 billion, his contribution to digital currencies is at least $ 20 million.

Charlie Lee also advised all crypto investors to invest in the most important currency on the market. And only then invest in altcoins and so on, arguing that “21 million Bitcoins isn’t so much that every millionaire on the planet owns at least one of them”.

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