Hedge Fund Billionaire Marc Lasry Positive about Bitcoin touching $40,000

Hedge Fund Billionaire Marc Lasry Positive about Bitcoin touching $40,000

Marc Lasry, the co-founder of Avenue Capital Group, has positively commended Bitcoin’s price on CNBC on July 18th. His expectations are of Bitcoin reaching $40,000 sooner than later.

Marc Lasry a billionaire born in Morocco is an American hedge fund manager who is the CEO of Avenue Capital Group and the co-owner of the famous NBA basket team Milwaukee Bucks.

In the interview on CNBC’s Squawk Box show, Lasry spoke about cryptocurrencies ease of trading thanks to it being more mainstream. He said, “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.”

Lasry earlier spoke to CNBC regretting having not bought Bitcoin.  

A twitter handle by the name of @zerohedge had even reported on Twitter about Lasry putting in 1% of his net worth into Bitcoin ever since the regret of not investing in it sooner.

Lasry expressed in the CNBC interview about his likes for Bitcoin “because it’s the one everybody is going to come to.”

Predictions of Lasry and other famous entrepreneurs such as TenX founder Julian Hosp are proving to be right in their predictions following this week’s cryptocurrency bull rally. TenX founder Julian Hosp predicted Bitcoin to touch $60,000 by the end of 2018.

Bitcoin and other cryptocurrencies skyrocketed at the beginning of the week along with positive news. Institutional investors such as BlackRock investing in the exploration of cryptocurrencies has helped the markets overall.

Bitcoin bounced to a 12% hike with levels of $7,400 and looked at an increase of almost 10% daily.

According to the 2018 World’s Billionaires List by Forbes, Lasry has an estimated $1.7 billion in personal fortune.

Lasry co-founded Avenue Capital Group, which focuses mostly on distressed securities and private equity with total assets of $14.1 billion.

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