Marc Lasry Sees BTC Hitting $20-40k In 5 Years, Invests 1% of His Net Worth

Marc Lasry Sees BTC Hitting $20-40k In 5 Years, Invests 1% of His Net Worth
Marc Lasry is a billionaire investor, CEO of Avenue Capital Group and co-owner of the Milwaukee Bucks NBA team. He recently appeared on CNBC’s “Delivering Alpha” conference and expressed a bullish perspective on Bitcoin, saying that he has invested about 1% of his $1.7 billion net worth into BTC. Lasry said he started purchasing BTC “a few years ago”, but invested more in the past year – he estimated the average price he acquired his BTC for to be between $5,000 and $7,500.

When the interviewer asked Lasry what he believes Bitcoin’s intrinsic value to be, he simply responded that he has no idea. As far as a 5-year timeframe is concerned, Lasry says he can see BTC between $20,000 and $40,000.

He expects BTC to start rising once it becomes easier to purchase for the average person. Even though services such as Coinbase make the process relatively simple, cryptocurrency is still seen as something foreign and unknown to the majority of people.

Not everyone who appeared on Delivering Alpha was as bullish on Bitcoin, which is not too surprising since cryptocurrency is a polarizing topic. Ken Griffin, the CEO of Citadel, said he does not have a single portfolio manager who said his company should buy cryptocurrency. He does not see cryptocurrency solving any pressing problems:

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