Marc Lasry sees Bitcoin price at $40K in the near future, adding that the increase in easiness of trading cryptocurrencies will drive the price of Bitcoin further.
19 July, AtoZ Markets – The co-founder of Avenue Capital Group, Marc Lasry, has stated that Bitcoin price can hit as much as $40,000 during his recent public appearance.
Marc Lasry Sees Bitcoin Price at $40K in the Near Future
Lasry’s debt management company is now controlling around $9.6 billion of assets. He has appeared to be quite bullish in his commentary on Wednesday. Mr. Lasry believes that the increase in easiness of trading cryptocurrencies will drive the price of Bitcoin further. He has explained:
“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.”
Mr. Lasry has also stated that he anticipated Bitcoin investors to make “5 to 10 times their money in 3 to 5 years.” He has previously stated that he regrets not purchasing Bitcoin earlier. The reports this week have been stating that he eventually has converted one percent of his net worth to Bitcoin.
Mr. Lasry has added that he liked Bitcoin “because it’s the one everybody is going to come to.” His forecast has appeared amid a recent uptrend in Bitcoin’s price. The leading cryptocurrency has suddenly spiked 12 percent on July 17, while now it is trading at
Bitcoin Price Forecasts
In the meantime, institutional investors have been expressing a lot of interest regarding Bitcoin. Some of the investment giants, such as BlackRock, has been noticed moving towards the cryptocurrency market.
Lasry’s $40,000 Bitcoin price prediction seems somewhat conservative when we look at the forecast made by Tim Draper. He has stated that the Bitcoin price will hit $250,000 by 2022.
One of the crypto markets entrepreneurs, Phillip Nunn, has made a prediction earlier this January that Bitcoin would hit lows of $6000 and highs of $60,000. Mr. Nunn has recently reiterated his confidence in the prediction. He has cited his belief in the Blockchain technology as means that will take Bitcoin and other altcoins to the new highs in the next years.
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