Share this article
Billionaire Marc Lasry Sees Bitcoin's Price Reaching $40,000
Billionaire investor and fund manager Marc Lasry said the price of bitcoin has the potential to reach $40,000.
Updated Sep 14, 2021, 1:48 p.m. Published Jul 19, 2018, 2:00 a.m.
Another billionaire investor has made bullish comments on bitcoin.
Marc Lasry, the co-founder, chairman and CEO of Avenue Capital Group, an investment firm with $9.6 billion in assets under management, weighed in on his bitcoin investment on CNBC Wednesday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Speaking during the channel's "Squawk Box" segment, Lasry said he has invested around 1 percent of his personal fund in bitcoin, betting that the world's largest cryptocurrency by market cap might soon be worth as much as $40,000 per coin at some point.
He noted:
"You are hoping that 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 the market bet ... I think you will have something that ends up being somewhere at $20,000 to $40,000."
Advertisement
Lasry has an estimated $1.7 billion in his personal fortune, according to the 2018 World's Billionaires List released by Forbes.
Although investors are betting on all kinds of cryptos, Lasry believes "the one will have the biggest market benefit is going to be bitcoin."
"I like bitcoin because it's the one that where everybody is going to come to," he said, adding that the price of bitcoin will rise if the average Americans can get access to bitcoin.
One of the Wall Street's most renowned "vulture" investors, Lasry said he has started investment in bitcoin a few years ago, but bought a lot more in the last year.
Bitcoin image via Shutterstock
Mais para você
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
O que saber:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
