- Billionaire Marc Lasry wishes he had bought more Bitcoin.
- In 2018 Lasry accurately predicted that Bitcoin would reach $40,000.
- Now, the billionaire is not ruling out the possibility of a $100,000 rebound.
Billionaire Marc Lasry says he wishes he had bought more Bitcoin. The hedge fund manager shared this confession on CNBC’s Squawk Box.
“The probability as more and more people keep using #bitcoin it is going to keep moving up. It’s happened a little bit quicker than I thought it would. I should have bought a lot more,” says Marc Lasry. #btc pic.twitter.com/qICVIzs61R
— Squawk Box (@SquawkCNBC) June 8, 2021
Lasry co-founded Avenue Capital Management with his sister in 1995 and has grown it into a billion-dollar business. Also, Lasry serves as Avenue Capital’s CEO and chairman. In addition, he is the co-owner of an NBA team Milwaukee Bucks.
Notably, Lasry disclosed in July 2018 that 1% of his net worth was in BTC. At the time, BTC was trading at $7,400 but the billionaire accurately predicted that the top crypto would surpass $40,000 if it attained mainstream adoption.
The prediction came to pass on Jan 7 with BTC subsequently even surpassing $60,000 a few months later. However, BTC is facing a massive correction which has sent the top crypto tumbling below $40,000. When asked about the reversal Lasry responded, “Once a market is created it’s there.”
He added that he could argue that Bitcoin will rise to $125,000. On the other hand, he can also argue that it will plunge to $20,000. However, the billionaire predicts,
As more and more people keep using Bitcoin is going to keep moving up. It’s happened a little bit quicker than I thought it would. I should have bought a lot more.
Meanwhile, popular crypto analyst Lark Davis predicts that things could get worse for Bitcoin before they get better. In a recent YouTube video Davis analyzed Bitcoin’s technical indicators highlighting two patterns that show the top crypto in bear territory. However, Davis predicts that Bitcoin will not fall below 28,000, at which point it might spring back up.