Amidst uncertainties around if bitcoin would go zero or be banned, billionaire Thomas Peterffy is bullish on bitcoin.
In an interview with Forbes, brokerage pioneer Thomas Peterffy shared his vision for cryptocurrencies like bitcoin and the overall US economy. Peterffy said that he thinks that bitcoin could turn out to be a highly valuable asset in upcoming times regardless of the massive downturn in the crypto market. He admitted that he holds bitcoin (BTC) at the moment and also has plans to buy them more. However, he said that he would be doing so if the price of bitcoin goes $12,000.
In January of this year, the billionaire said that it would be reasonable for investors if they put 2% to 3% of their overall investment in cryptocurrencies. He said so citing – not so optimistic -actions of fiat currency. In July 2021, he admitted that he had bitcoin holdings while saying that even though there is only a small chance of cryptocurrencies becoming dominant currencies, it becomes important to play the odds.
Thomas Peterffy has founded an online trading platform – Interactive Brokers. He also holds the Board of Directors Chairman position at the trading firm. Interactive Brokers is known to offer trading services for cryptocurrencies. According to the list of billionaires of Forbes, Peterffy has a net worth of about $18.4 billion.
However, while admitting his plans of buying more bitcoin, Peterffy also expressed concerns regarding the future of the overall cryptomarket. He said that there are high chances that bitcoin will have no value in future or become outlawed. Peterffy warned that the United States government may look towards putting a ban on cryptocurrencies.
Interactive Brokers Chairman noted that there are concerns of officials about cryptocurrencies of their use in fundings of illegal activities. He also outlined the inability of the United States Treasury Department to keep track or control over the payments and collecting taxes.
Source: https://www.thecoinrepublic.com/2022/07/17/what-made-thomas-peterffy-planning-to-buy-bitcoin-in-bulk/