According to an interview given to CNBC this Wednesday, Marc Lasry predicts that the value of Bitcoin can potentially reach the $40,000 mark.
The billionaire investor claims that 1% of his total investments are in Bitcoin. Marc is a Moroccan-born American citizen who co-founded Avenue Capital Group.
Marc claims that he personally invested 1% of his family fortunes into Bitcoins and regrets not doing so during the budding stages when the prices were as low as $300.
Marc Lasry is one of the many billionaire investors who has shown positive intent towards this cryptocurrency. He justifies his prediction by saying that the value of Bitcoins has not reached its full potential because it’s still not considered a mainstream investment. As it becomes more accessible and as governments start to recognize this digital currency, the value of Bitcoin should reach $20,000 to $40,000, he claims.
Apart from Lasry, billionaire investor and TV celebrity Mark Cuban has changed his stance on Bitcoin. He was one of the early sceptics who publicly spoke out against investing in cryptocurrency. However, earlier this year, he announced that his NBA team, Dallas Mavericks, is going to start accepting crypto payments. He even went on to say that if someone is a “true adventurer” he or she might consider putting as much as 10 percent of their total savings into buying Bitcoins.
This latest Bitcoin news should provide some relief to the millions of investors worldwide who have just seen through a season consistent crashes earlier this year. Bitcoin lost almost 50% percent of its value during the early stages of 2018. This was after it almost reached the value of $20,000 at the end of 2017. Considering that the value of the currency is strongly influenced by buyer sentiment and Bitcoin news, this may cause people to stay invested or put in more money.
While Marc predicts the value of the digital currency to reach new heights, he is neither alone nor the first one to make this claim. Around November last years, legendary hedge fund investor Michael Novogratz predicted that Bitcoin value would “easily” reach $40,000 by the end of 2018. He said that the rise in value will come after the currency gains more acceptance in Asian markets. Currently, well over 62 percent of the total Bitcoin trading volume is in Japanese Yen. South Korean investors are also significantly contributing to the total trade volume. As China warms up to Bitcoins, the value of the digital currency can reach unprecedented heights.
Once part of Forbes list of billionaires, Novogratz told reporters that he has invested 20% of his net fortunes into cryptocurrency. He also claims that he has made over $250 million by investing in cryptocurrencies alone. The investor also revealed that he currently is invested in two cryptocurrencies, Bitcoin and Etherium.
With two legendary investors predicting the value of bitcoins to reach $40,000 by the end of 2018, this will most likely help in reinforcing buyer confidence.