Founder of Avenue Capital Management, billionaire Marc Lasry said that bitcoin’s meteoric rise in 2021 exceeded his expectations. He also expressed regret that he did not invest enough in the premier cryptocurrency.
“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
“As more people begin using bitcoin, the likelihood of further gains remains high. It happened a bit faster than I expected. I should have bought a lot more. I was wrong,” he said on CNBC.
“If the market is created, it does not disappear. For this reason I became interested in bitcoin. I thought that with the arrival of institutional investors, the price would start to rise,” he added.
Commenting on his previous forecast that the coin would reach $40,000, Lasry noted that the crypto market had already formed and nothing threatens it.
“To be honest, I don’t know where bitcoin is headed. I can justify why it will rise to $100,000, but I can also justify why it will fall to $20,000.”
As noted previously, Marc Lasry is known for bullish expectations regarding bitcoin, which he shared, including during the bear market.
In 2018, he allocated 1% of his assets to cryptocurrency and predicted that by 2021–2023 bitcoin’s market capitalization would rise five- to tenfold.
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