Sunday, March 29, 2020

Billionaire Marc Lasry Confident About Bitcoin Getting to $40K

BTCNN
BTCNN
BTCNN aim to be the key source for both digital currency experts and newbies. With the cryptocurrency industry growing so fast we want to educate our readers about all the latest developments as they happen.
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The cryptocurrency market has turned positive suddenly, and the predictions are reflecting that. Marc Lasry, a billionaire investor has declared today in CNBC’s program “Squawk Box” that he firmly believes that bitcoin prices could get easily to more than forty thousand dollars as adoption and confidence grow around this virtual asset. He declared this from the Delivering Alpha Agenda Conference, an important conference hosted by Institutional Investor and presented by CNBC.

Marc Lasry is a billionaire investor, CEO of a debt investment firm called Avenue Capital Group, a firm that is worth more than 14.1 billion dollars in assets. But Lasry says that he has invested in bitcoin with his own money, separating the company from his own endeavors. In a nutshell, he thinks that the future is bright for bitcoin, as long as adoption grows and it starts getting easier to trade in traditional markets.

Lasry declared on the interview 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 OF THE BET,”

He also declared that the profitability of investing in bitcoin will go through the roof, and that he sees possible for investors to make three to five times the money invested in the middle term (around 3 to 5 years).

Lasry has been a known bitcoin investor since it starts and has expressed regret publicly about not having invested in bitcoin when it was at $300. At that time, the veteran investor declared that he had waited too long to get in that market. Lately, the bitcoin price has experienced a sudden rise of more than $1,000 in less than a day, spearheading the cryptocurrency market to recover some of the value that it has lost since last December when it shed more than 70% of its value.

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