In an interview with CNBC’s Squawkbox, Marc Lasry has expressed regret at not investing in Bitcoin back when it was $300. Now, he foresees a massive rise in price as tradability and mainstream acceptance grows. He has even forecast a potential price rise to a massive $40,000 – over double the highest price we have ever seen for the cryptocurrency, at the back end of last year. He was quoted as saying:
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. The reason why I like Bitcoin is because it’s the one everybody is going to come to.
Lasry is known for owning the multi-billion dollar Avenue Capital Group, as well as being co-owner of the Milwaukee Bucks in the American NBA. While his predictions seem far-fetched at the moment, it is worth considering that Bitcoin has already risen as far as $19,500 in the last 12 months, and that was before blockchain really took off. It is cerainly feasible that $40,000 could be reached, although whether the crypto is ever stable or not is certainly a matter of debate.
In context, Lasry’s prediction seems fairly measured too, when compared to other billionaires. Mike Novogratz has previously made predictions of $100,000 and over, while John McAfee famously claimed that Bitcoin would hit $1 million by 2020 – or he would eat a very specific part of his own body.
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Where do you see Bitcoin’s level? Will the volatility ever end? Let us know your thoughts.