Bitcoin
$63,564.24-4.29%
Ethereum
$3,105.90-5.11%
Binance Coin
$606.47-0.74%
Solana
$143.47-9.70%
XRP
$0.51463005-5.17%
Dogecoin
$0.14897544-7.88%
Toncoin
$5.24-8.72%
Cardano
$0.46611446-6.20%
Shiba Inu
$0.00002484-8.62%
Avalanche
$34.91-10.26%
Tron
$0.11566367+1.47%
Wrapped Bitcoin
$63,698.85-4.27%
PlayIconNav
Crypto Prices CoinDesk 20 Index CoinDesk 20 Index
Countdown to Consensus 2024The largest and longest running event that covers all sides of Crypto and Web 3
33
DAYS
23
HR
03
MIN
04
SEC
Markets

Billionaire Marc Lasry Sees Bitcoin's Price Reaching $40,000

Billionaire investor and fund manager Marc Lasry said the price of bitcoin has the potential to reach $40,000.

By Madeline Meng Shi
AccessTimeIconJul 19, 2018 at 2:00 a.m. UTC
Updated Sep 14, 2021 at 1:48 p.m. UTC
bitcoin, pounds
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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.

Bitcoin image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.