Back in December, Lasry expressed regret about not buying bitcoin sooner, saying he should’ve bought the cryptocurrency when it was at $300 just a couple of years ago.
“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 of the bet,” Lasry said, adding that he sees bitcoin investors making five to 10 times their money in three to five years.
Lasry’s day job is running the distressed debt investment firm that he helped start, Avenue Capital Group, which has about $9.6 billion in assets under management. But he said his bitcoin investments were made with his personal money.
Bitcoin lost more than half its value in the first six months of this year. However, the price of bitcoin spiked in the last 24 hours. Lasry expects bitcoin will have the most benefit for investors out of all the cryptocurrencies, saying, “The reason why I like bitcoin is because it’s the one everybody is going to come to.”
