By
Tolu Ajiboye
April 23rd, 2024
Billionaire investor Marc Lasry supported crypto optimists, saying that the price of bitcoin could reach up to $40,000 as it becomes more accepted and easier to trade.
With the growth of Bitcoin’s popularity, only the lazy would not try to guess what its price would be in the future. Some believe Bitcoin will reach fabulous highs, while others are pretty sceptical about Bitcoin and other digital currencies in general. One of the most incredible predictions was made by cybersecurity and software pioneer John McAfee, who staked his name and up to $10 mln saying that Bitcoin would reach $500,000 by 2020.
Last year, Julian Hosp, cryptocurrency entrepreneur and the founder of TenX, who believes that the bitcoin’s rapid rise is still under way, said that Bitcoin would hit $60,000 in 2018. Hedge Fund CEO Phillip Nunn has taken the same view. Crypto Trader Brian Kelly believes in this currency as well, saying that the drop in Bitcoin’s price in June didn’t mean that Bitcoin was dead.
Recently, an anonymous crypto enthusiastic investor bet that Bitcoin will surpass Berkshire Hathaway’s stock by 2023, which means Bitcoin will have to appreciate by more than 40 times by that time exceeding $280,000 mark. Besides the point, if his predictions will come true, he will win as much as AUD $1.2 billion (US $888 million).
Among other investors optimistic about Bitcoin is Marc Lasry, the co-founder of Avenue Capital Group and owner of the National Basketball Association’s Milwaukee Bucks. He said that as Bitcoin becomes more accepted and easier to trade, its price could reach up to $40,000. Lasry said:
“You are hoping that 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 the market bet … I think you will have something that ends up being somewhere at $20,000 to $40,000.”
Speaking during the “Squawk Box” segment, Lasry said he has invested around 1 percent of his personal fund in bitcoin. He expects bitcoin to become the most beneficial for investors out of all the cryptocurrencies. He added:
“I like bitcoin because it’s the one that where everybody is going to come to.”
In December, Lasry expressed regret about not buying bitcoin earlier, when it was at $300 just a couple of years ago.
Meanwhile, according to the data from CoinMarketCap, the price of Bitcoin at the press time makes up $7.344, showing the decline of 1,12% in the last 24 hours.
Last year, the cryptocurrency was nearing $20,000, and after a drop, it was struggling to regain its position. In the first six months of this year, Bitcoin lost more than half of its value. However, amid numerous reasons over the past few days contributing towards the latest euphoria in Bitcoin and the overall cryptocurrency market, the price of Bitcoin spiked on Tuesday. According to experts, the jump had more to do with technical levels than any other catalyst.