In a Squawk Box interview, the billionaire owner of the Milwaukee Bucks and founder of Avenue Capital Management, Marc Lasry, said that Bitcoin has gone up a lot quicker than he thought it would and that he should have bought a lot more. 


Don’t miss out on how smart money is playing the crypto game. Subscribe to our premium newsletter - Crypto Investor.


"I think the probability, as more and more people start using Bitcoin, is that it's going to keep going up. It's happened a lot quicker than I thought it would. I should have bought a lot more. That was my mistake."

Lasry had predicted that Bitcoin could go to $40,000 in a previous interview. When asked about his previous prediction and where Bitcoin stands today, Lasry said that once a market is created it is there and unlikely to go away. 

"Once a market is created it's there. That to me was the reason why I thought it was interesting on Bitcoin. And I thought that as soon as you add institutional investors coming in the price would move up."

While Lasry seemed relatively bullish on Bitcoin's long-term situation due to its established market, he did note that arguments can be made on both sides.

"I honestly don't know where it is going to go but you've got that market, it's there. I could make you an argument it could go to $100,000. I could make you an argument it could to $20,000."