The CEO has said that he had always known that Bitcoin would explode, but it happened a little quicker than he thought it would. Adding: "I should have bought a lot more."
Marc Lasry is an ardent supporter of Bitcoin and the crypto movement. Several years ago, he predicted that Bitcoin would go to 40,000 USD, and it happened. The world's largest cryptocurrency surged over 300% last year and briefly surpassed $60,000 in March.
Major Updates
- Marc lasry, CEO of Avenue Capital, wishes he bought more Bitcoins
- Bitcoin recently inched closer to 30,000 USD, steering massive reactions in the crypto community.
- Companies like Microstrategy are buying the dip.
Marc believes that once a market is created, it's there. According to the Billionaire, price increments are likely as more investors enter the market. And today, it's even more unpredictable where the price could go next. In December 2018, the Billionaire hedge fund manager expressed regret about not buying bitcoin sooner, saying he should've purchased the cryptocurrency when it was at $300 just a couple of years ago.
Earlier this year, he worked with the Commodity Futures Trading Commission Chairman Christopher Giancarlo on crypto-asset and blockchain investment firm BlockTower Capital.
Can Bitcoin go beyond 100,000 USD?
When asked if Bitcoin price would go over $100k, Marc Lasry explained as follows:
Bitcoin is harder than it was three years ago. Right now, it could go up two or three times or could drop 50%. Things have changed. The market is not as rewarding as it used to be. But for Bitcoin to move up, there have to be fewer legal issues. Countries would have to accept it as a currency, and that isn't happening anytime soon. We're just at that point where there are some uncertainties about cryptocurrency.
Conclusion
BTC's price fluctuations have given a lot to talk about in the crypto community. At this point, Bitcoin needs a miracle to break its current resistance below the 33k USD price. Even with the turn of events, some investors like Microstrategy are buying the dip. If all can be as enthusiastic as Marc Lasry and Micheal Saylor, then there might be little to worry about.
Question of the Day
Do you think Bitcoin has what it takes to hit and surpass 100k USD? Share your thoughts below.
