READ LATER – DOWNLOAD THIS POST AS PDF
Marc Lasry, the billionaire investor, and a co-founder of Avenue Capital Group spoke recently about Bitcoin (BTC) price and has even given his own price predictions. Lasry believes that Bitcoin will reach $40,000 in the next few years, and regrets not buying it sooner.
Marc Lasry sees Bitcoin hitting $40,000 due to easy trading
In one of his recent interviews, a well-known Bitcoin (BTC) supporter and a billionaire, Marc Lasry, decided to even give his price predictions for the future of the coin. Despite the fact that predicting the prices of cryptos is almost impossible to do due to the market’s unstable nature, many people have found price predicting to be their new favorite activity.
As for Lasry, he believes that Bitcoin can only go bullish from here on and that its price is bound to hit $40,000 within a few years.
Lasry seems to be pretty confident with his prediction, and he stated that his debt management company, which has control of around $9.5 billion when it comes to assets, has seen a large spike up in crypto trading. According to him, Bitcoin’s price is directly connected to the increase in coin’s use, and the more it manages to tap into the mainstream, the more it will rise.
Bitcoin, as well as other cryptos, are slowly but surely advancing when it comes to their adoption in many countries around the world. Despite continuous efforts by some to undermine the rise of cryptos, it would seem that digital currencies are attracting more and more attention with each passing week. With that in mind, Lasry predicts that BTC investors can make 5 to 10 times bigger returns within the next 3 to 5 years.
He also mentioned recently that his only regret is not buying BTC sooner. Earlier this week, he converted a significant amount of his net worth to BTC tokens, which has proven to everyone that Lasry truly believes in BTC’s success. He also stated that he likes Bitcoin the most because it is the coin that everyone will eventually go to.
Avenue’s Marc Lasry says he has invested 1% of his net worth in Bitcoin
— zerohedge (@zerohedge) July 18, 2018
Other Bitcoin predictions are even more bullish
So far, Lasry’s predictions seem to be true, and Bitcoin has had a $1,000 rise, which has affected nearly the entire crypto market. At the time of writing, Bitcoin is priced at $7,442.62 as per CoinMarketCap.
A lot of institutional investors have taken an interest in talking about Bitcoin and its future recently. Whether optimistic or not, this proves that the interest in cryptos continues to grow and that Bitcoin and the majority of the altcoins are under a microscope at all times. In the end, more and more of these individuals, as well as various banks, companies, and alike, are slowly moving towards the crypto sphere, which can only mean good things for the coins.
However, a lot of people have also been trying to give price predictions, especially when it comes to cryptos. Despite the fact that Lasry’s $40,000-prediction seems impossible at first, we have seen Bitcoin reaching half of that, and that was over half a year ago. Who knows what Bitcoin might achieve in the next few years?
Well, some people, like Tim Draper, tried to provide an answer. According to Draper, Bitcoin can reach the price of a quarter of a million within the next four years. As shocking as this announcement was, it was still not even close to the predictions by John McAfee, who claims that Bitcoin can hit $1 million per coin by 2020.
For the latest cryptocurrency news, join our Telegram!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Pexels