Billionaire investor Marc Lasry told CNBC on Thursday that he should’ve bought bitcoin when it was at $300 just a couple years ago.
The cryptocurrency, which began 2017 below $1,000 per unit, blasted through $19,000 on Thursday, surging more than $7,000 in less than two days on Coinbase, a main trading platform.
But Lasry said on “Squawk on the Street” that he took another look around the $9,000-$10,000 level just a few weeks ago.
“I wanted to start buying it personally,” said Lasry. “Then I was like … ‘I’ll just wait for it to take a little dip.’ And it hasn’t taken a dip. … I should have bought that thing.”
The rapid advances have prompted some market participants to warn of a bubble.
“Look, I don’t understand it,” Lasry admitted. “I just sort of looked at it and said it seems like a new currency is being created.”
“The reason you’re seeing this huge run-up over the course of the last couple of weeks is … it’s coming into the mainstream,” he added.
Lasry’s day job is running the distressed debt investment firm that he helped start, Avenue Capital Group, which has about $9.8 billion in assets under management.
He also owns a stake in the NBA’s Milwaukee Bucks.
Billionaire investor Marc Lasry: I should have bought bitcoin when it was at 0