'I should have bought a lot more,' laments billionaire investor on Bitcoin

'I should have bought a lot more,' laments billionaire investor on Bitcoin


Marc Lasry, co-founder and CEO of Avenue Capital Group, believes that despite recent volatility in the crypto market, it likely isn’t going away.

In a Tuesday interview with CNBC’s Squawk Box, Lasry said that while the price of Bitcoin (BTC) could go anywhere from $20,000 to $100,000, the market has been established, implying it is unlikely to go to zero. The billionaire commented that his 2018 prediction that BTC would reach $40,000 was based on institutional investors driving interest.

“Once a market is created, it’s there,” said Lasry. “The probability as more and more people keep using Bitcoin, it’s going to keep moving up. It’s happened a little bit quicker than I thought it would.”

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He added:

“I should have bought a lot more — that was my mistake.”

Lasry’s prediction three years ago came when the price of Bitcoin was under $10,000 following the 2017 bull run and subsequent crash. At the time, he said BTC investors could make “5 to 10 times

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