Marc Larsy was invited recently for an interview on the CNBC show Squawk Box. During the interview, the former hedge fund manager remarked that it would be better if he has bought more Bitcoins. Even though the Bitcoin market is in a pickle at present, Larsy is grieving about not having invested a larger portion of his capital in the flagship cryptocurrency. The co-founder and CEO of Avenue Capital Group told the media that there are good chances that Bitcoin would keep moving upwards.
Speaking to the journalist in Squawk Box, Larsy told the media that as more people opt to move into the crypto space and Bitcoin, the market is growing rapidly. He also claimed that the progress and mass adoption of Bitcoin is happening faster than he expected to happen. Since 2018, Larsy has publically invested one percent of his net worth into Bitcoin.
Even when Marc Larsy wants to invest in more Bitcoins, he is still unsure where the beacon cryptocurrency market is headed. In 2018, he invested in Bitcoin when it was trending at $7400. He also correctly predicted that Bitcoin price would exceed $40,000. Back in 2018, Larsy also conditioned the price rally of Bitcoin with mass adoption.
For now, he seemed to be faltering between two extreme corrections. The co-owner of the NBA Bucks declared that the flagship cryptocurrency has the potential to score a $100,000 price mark. However, he also shared the fears that that Bitcoin could go back as far as $20K. At press time, Bitcoin is struggling to stay about $30K and trading for $32,557. He also added that he is not sure where the market is headed, but it has made it clear that the Bitcoin market is undeniably huge.
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Donald Trump is Cracking Down on Bitcoin
After leaving the White House, the United States president has taken his guns out on the Bitcoin markets. In a recent interview with Fox News, the ex-president claimed that Bitcoin seems like a scam. He declared that he was taken by surprise when Bitcoin was valued at somewhere above $6,000 in 2018. He further added that Bitcoin should not be allowed to compete against the dollar.
Trump also supported the idea that government regulators should strictly regulate Bitcoin. He also slammed Facebook virtual currency Libra that has been renamed as Diem for now. A book authored by former NSA advisor John Bolten claims that Donald Trump pushed the former Treasury secretary Steven Mnuchin to introduce restrictive crypto laws in the United States.