[2018-07-19] Billionaire Marc Lasry Sees Bitcoin's Price Reaching $40,000

[ivanpoldark]

Another billionaire investor has made bullish comments on bitcoin.

Marc Lasry, the co-founder, chairman and CEO of Avenue Capital Group, an investment firm with $9.6 billion in assets under management, weighed in on his bitcoin investment on CNBC Wednesday.

Speaking during the channel's "Squawk Box" segment, Lasry said he has invested around 1 percent of his personal fund in bitcoin, betting that the world's largest cryptocurrency by market cap might soon be worth as much as $40,000 per coin at some point.

He noted:

"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."

Lasry has an estimated $1.7 billion in his personal fortune, according to the 2018 World's Billionaires List released by Forbes.

Although investors are betting on all kinds of cryptos, Lasry believes "the one will have the biggest market benefit is going to be bitcoin."

"I like bitcoin because it's the one that where everybody is going to come to," he said, adding that the price of bitcoin will rise if the average Americans can get access to bitcoin.

One of the Wall Street's most renowned "vulture" investors, Lasry said he has started investment in bitcoin a few years ago, but bought a lot more in the last year.

https://www.coindesk.com/billionaire-marc-lasry-sees-bitcoins-price-reaching-40000/

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[European Central Bank]

weird price claim. it managed 20 grand based on the usual suspects. so he's saying if it infiltrates every market and attracts every potential buyer it's gonna double from there? that doesn't seem very realistic or ambitious to me. we're probably at 5-10% of market saturation right now and that might be massively overstating it.

[1Referee]

weird price claim. it managed 20 grand based on the usual suspects. so he's saying if it infiltrates every market and attracts every potential buyer it's gonna double from there? that doesn't seem very realistic or ambitious to me. we're probably at 5-10% of market saturation right now and that might be massively overstating it.

It may sounds weird, but he's totally not into Bitcoin as we are, which is perfectly fine. In most cases people that aren't into Bitcoin don't think it has any sort of value at all, so to see a traditional bobo speak out that Bitcoin could be worth $40,000 is pretty bullish to me. He's just realistic, which is what I like and prefer to see. What's the point of seeing fools throw with $1,000,000 predictions while we're still far below $10,000?

---

Also, the article fails to state truth; he hasn't actually said that he invested 1% of his capital in Bitcoin. It's just that the value went up high enough to account for 1% of his worth right now. Based on his 'small' investment in Bitcoin it directly points out that it was done to counter the regular economy and the loss of value of his fiat wealth. Smart man he is.

[Betwrong]

~
Also, the article fails to state truth; he hasn't actually said that he invested 1% of his capital in Bitcoin. It's just that the value went up high enough to account for 1% of his worth right now. Based on his 'small' investment in Bitcoin it directly points out that it was done to counter the regular economy and the loss of value of his fiat wealth. Smart man he is.

He said he started investing in Bitcoin several years ago but also that he bought a lot more later when the price was around $5,000 - $7,500, so I think he actually invested around 1% of his own capital in Bitcoin, and considering that he has $1.7 billion in his personal fortune, according to Forbes, that's around $17 million, a pretty big money, which a guy like him wouldn't invest without thinking that BTC will rise much higher in the future. He's a smart guy, I agree.

[Fatunad]

~
Also, the article fails to state truth; he hasn't actually said that he invested 1% of his capital in Bitcoin. It's just that the value went up high enough to account for 1% of his worth right now. Based on his 'small' investment in Bitcoin it directly points out that it was done to counter the regular economy and the loss of value of his fiat wealth. Smart man he is.

He said he started investing in Bitcoin several years ago but also that he bought a lot more later when the price was around $5,000 - $7,500, so I think he actually invested around 1% of his own capital in Bitcoin, and considering that he has $1.7 billion in his personal fortune, according to Forbes, that's around $17 million, a pretty big money, which a guy like him wouldn't invest without thinking that BTC will rise much higher in the future. He's a smart guy, I agree.

Most investors specially the big ones would always have a doubt first into bitcoin but there were really guys that can see through its potential thats why they do made such decision which as you said its quite a smart thing or move had been done. 1% of his fortune to be invested would be just fine and besides this is the only analysis or price prediction thats somehow realistic yet it do only mention $40k which is reasonable unlike on others saying 60k-120k or even more. lol

[hatshepsut93]

weird price claim. it managed 20 grand based on the usual suspects. so he's saying if it infiltrates every market and attracts every potential buyer it's gonna double from there? that doesn't seem very realistic or ambitious to me. we're probably at 5-10% of market saturation right now and that might be massively overstating it.

I guess he wanted to make a prediction that can come true in the next few years, even regardless of Bitcoin's mass adoption, because $40,000 can be achieved through speculation and some adoption. $40k in 10 years should be ridiculously small of Bitcoin, since emission will be very low and its technology would be hugely improved. He is probably still considering a scenario where Bitcoin gets outlawed and can't get mass adoption and trading volume to sustain big prices.

[orions.belt19]

weird price claim. it managed 20 grand based on the usual suspects. so he's saying if it infiltrates every market and attracts every potential buyer it's gonna double from there? that doesn't seem very realistic or ambitious to me. we're probably at 5-10% of market saturation right now and that might be massively overstating it.

I guess he wanted to make a prediction that can come true in the next few years, even regardless of Bitcoin's mass adoption, because $40,000 can be achieved through speculation and some adoption. $40k in 10 years should be ridiculously small of Bitcoin, since emission will be very low and its technology would be hugely improved. He is probably still considering a scenario where Bitcoin gets outlawed and can't get mass adoption and trading volume to sustain big prices.

Considering that he’s someone who hasn’t been in the crypto scenario for such a long time and that he’s a public figure, his prediction is actually quite humble. Better to be a little safe rather than make reckless assumptions of something he’s not so familiar with. That would really tarnish his image if he sounded like a foolish child who believed that bitcoin will become $1,000,000 in a short period. He even sounds more believable than the others who post in speculation.

[Betwrong]

~
Also, the article fails to state truth; he hasn't actually said that he invested 1% of his capital in Bitcoin. It's just that the value went up high enough to account for 1% of his worth right now. Based on his 'small' investment in Bitcoin it directly points out that it was done to counter the regular economy and the loss of value of his fiat wealth. Smart man he is.

He said he started investing in Bitcoin several years ago but also that he bought a lot more later when the price was around $5,000 - $7,500, so I think he actually invested around 1% of his own capital in Bitcoin, and considering that he has $1.7 billion in his personal fortune, according to Forbes, that's around $17 million, a pretty big money, which a guy like him wouldn't invest without thinking that BTC will rise much higher in the future. He's a smart guy, I agree.

Most investors specially the big ones would always have a doubt first into bitcoin but there were really guys that can see through its potential thats why they do made such decision which as you said its quite a smart thing or move had been done. 1% of his fortune to be invested would be just fine and besides this is the only analysis or price prediction thats somehow realistic yet it do only mention $40k which is reasonable unlike on others saying 60k-120k or even more. lol

He never said when he thinks BTC will be at $40k and if he meant somewhere in the far future, then it is a moderate prediction indeed, because many people, including me, were predicting $40k for the last quarter of this year (and I still think it's possible). Also I think that 120k in 10 years is a pretty reasonable prediction too. Bitcoin adoption has the potential to rise 200 times or even more, and if it weren't for the whales, the price would rise quite as much. Because of their selling along the road the price will hardly rise 200 times, but it can rise 20 times from where it is now.

[stomachgrowls]

~
Also, the article fails to state truth; he hasn't actually said that he invested 1% of his capital in Bitcoin. It's just that the value went up high enough to account for 1% of his worth right now. Based on his 'small' investment in Bitcoin it directly points out that it was done to counter the regular economy and the loss of value of his fiat wealth. Smart man he is.

He said he started investing in Bitcoin several years ago but also that he bought a lot more later when the price was around $5,000 - $7,500, so I think he actually invested around 1% of his own capital in Bitcoin, and considering that he has $1.7 billion in his personal fortune, according to Forbes, that's around $17 million, a pretty big money, which a guy like him wouldn't invest without thinking that BTC will rise much higher in the future. He's a smart guy, I agree.

Most investors specially the big ones would always have a doubt first into bitcoin but there were really guys that can see through its potential thats why they do made such decision which as you said its quite a smart thing or move had been done. 1% of his fortune to be invested would be just fine and besides this is the only analysis or price prediction thats somehow realistic yet it do only mention $40k which is reasonable unlike on others saying 60k-120k or even more. lol

He never said when he thinks BTC will be at $40k and if he meant somewhere in the far future, then it is a moderate prediction indeed, because many people, including me, were predicting $40k for the last quarter of this year (and I still think it's possible). Also I think that 120k in 10 years is a pretty reasonable prediction too. Bitcoin adoption has the potential to rise 200 times or even more, and if it weren't for the whales, the price would rise quite as much. Because of their selling along the road the price will hardly rise 200 times, but it can rise 20 times from where it is now.

Anything is possible with bitcoin and it doesnt stop to surprise us when it hit up prices which we do least expected and just like what happened when it reach $20000 in a short years span.
Theres a prediction but the fact we didnt really expect that thing to happen even to those early adopters where the price is still on few dollars some of them sold out and some do strongly believe and somehow forseen on its potential and bitcoin didnt break their expectations and hope this would happen again on future years to come specially crypto is already making a path for it to be adopted even more.

[bbc.reporter]

What were the crazy predictions before the Mtgox pump 5 years ago? Were there crazy analysts that said bitcoin would reach $10,000 or more? There was a video compilation somewhere but I cannot find it anymore.

In any case, the point is some of those predictions are not as crazy sounding as it was 5 years ago. I reckon $40,000 is a normal sounding price prediction these days hehehe.

[Sanguintan]

weird price claim. it managed 20 grand based on the usual suspects. so he's saying if it infiltrates every market and attracts every potential buyer it's gonna double from there? that doesn't seem very realistic or ambitious to me. we're probably at 5-10% of market saturation right now and that might be massively overstating it.

I guess he wanted to make a prediction that can come true in the next few years, even regardless of Bitcoin's mass adoption, because $40,000 can be achieved through speculation and some adoption. $40k in 10 years should be ridiculously small of Bitcoin, since emission will be very low and its technology would be hugely improved. He is probably still considering a scenario where Bitcoin gets outlawed and can't get mass adoption and trading volume to sustain big prices.

It is easy for the price to be $40k in 5 years. But it is difficult in 1 year.

[hotforblockchain]

There should be new funds coming in crypto ,otherwise 40k $ wont happen.At the moment the long waited ETF  could not be so close at all, there is a good chance that SEC will postpone the decision several times, that does not mean that there cant be other catalysts like India and China reentering the game or other financial market events as Stock market burst which potentially could trigger capital going to cryptos.

[monocolor]

"might soon be worth as much as $40,000 per coin at some point", soon? how soon? next year (well I don't think this year) will be great though I guess it is a bit aggressive.

[dvorianin02]

Another billionaire investor has made bullish comments on bitcoin.

Marc Lasry, the co-founder, chairman and CEO of Avenue Capital Group, an investment firm with $9.6 billion in assets under management, weighed in on his bitcoin investment on CNBC Wednesday.

Speaking during the channel's "Squawk Box" segment, Lasry said he has invested around 1 percent of his personal fund in bitcoin, betting that the world's largest cryptocurrency by market cap might soon be worth as much as $40,000 per coin at some point.

He noted:

"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."

Lasry has an estimated $1.7 billion in his personal fortune, according to the 2018 World's Billionaires List released by Forbes.

Although investors are betting on all kinds of cryptos, Lasry believes "the one will have the biggest market benefit is going to be bitcoin."

"I like bitcoin because it's the one that where everybody is going to come to," he said, adding that the price of bitcoin will rise if the average Americans can get access to bitcoin.

One of the Wall Street's most renowned "vulture" investors, Lasry said he has started investment in bitcoin a few years ago, but bought a lot more in the last year.

https://www.coindesk.com/billionaire-marc-lasry-sees-bitcoins-price-reaching-40000/

It seems to me that a person who has such a huge fortune can be trusted. I agree that bitcoin can grow by such a huge amount. However, we must not forget about the analyst, because the bitcoin rate is poured into various events in the crypto industry

[richardsNY]

It seems to me that a person who has such a huge fortune can be trusted.

Please, no. Being wealthy has nothing to do with being trustworthy. I don't consider anyone in the crypto space to be trustworthy, neither should you. One way or another, most people here have different standards and motives which they want to maintain and exploit at your cost, all to get the financial reward they are looking for.

I agree that bitcoin can grow by such a huge amount. However, we must not forget about the analyst, because the bitcoin rate is poured into various events in the crypto industry

Analysts don't know what they are talking about -- they keep rehashing what is publicly known already, all to feed the mass because they are too lazy to do their own research. These analysts are only looking for importance, because where would they be without crypto? Most people have never heard of all these hype riders before, and suddenly they try to act like they know it all....