Co-Owner of Milwaukee Bucks Believes Industry Will See Bitcoin Profits Increase by Tenfold By 2021
Marc Lasry, who co-owns the NBA’s Milwaukee Bucks, has faith in the future of Bitcoin, despite the recent rollercoaster ride that its price has been on. Luckily, he is in good company with many other investors, and his experience has led him to conclude that the current value of the token will increase by 10x the current value in the next three to five years. He says that the major influences on Bitcoin’s success are accessibility and acceptance of cryptocurrency.
Essentially, Lasry’s predictions may only come to being when the rest of the financial industry agrees that it is more mainstream, allowing it to be adapted for a wider range of transactions. The Avenue Capital Group CEO sees the total price rising to $40,000 after this change, saying that he sees Bitcoin as being the “biggest market benefit.” Lasry has expressed remorse about not joining the cryptocurrency movement sooner.
The Bitcoin was previously only priced at $300 a few short years ago, and even with the drops in price lately, it is still worth over $7,000 now. As it stands, Lasry says that 1% of his billionaire fortune is invested in Bitcoin already, while his group maintains about $9.6 billion in assets. To clarify, he has also noted that the only money he has used for cryptocurrency is his own fortune.
Lasry has been right about the fact that Bitcoin is on the rise, if nothing else. The market price has been going up and has even increased 16% in just the last 7 days, bringing it to the current $7,000+ price tag.
Luckily, the rest of the cryptocurrency world is getting a taste of this jump. Along with Bitcoin, Ethereum and XRP have managed to have increases of 11.36% and 13.12% (respectively) in their prices. There are some reports that credit the new prices to the positive comments that David Solomon, CEO of Goldman Sachs, made about cryptocurrency.