Billionaire Thomas Peterffy Plans to Buy Bitcoin Despite Concerns BTC Could ‘Become Worthless or Outlawed’
If bitcoin prices hit $12K, billionaires Thomas Peterffy, founder of Interactive Brokers, plan to buy more bitcoin. The bitcoin investor remains concerned that bitcoin could become worthless or illegal.
Peterffy, a billionaire, shared his outlook on bitcoin and the U.S. economy with Forbes last week. A board of directors member and founder of Interactive Brokers, a trading platform, Peterffy is chairman. According to Forbes’ list of billionaires, his net worth is currently $18.4 billion. The cryptocurrency market is offered by Interactive Brokers.
According to the billionaire, investors should hold 2% to 3% of their family wealth in cryptocurrencies, just in case fiat currency goes bankrupt. Last year, he revealed that he held some BTC, stating that “there’s a small chance that this will be a dominant currency, so you have to play the odds.”
A few weeks ago, he told Forbes that bitcoin could continue to be highly valuable despite the recent crypto market decline. In addition, he plans to buy more BTC if the cryptocurrency goes up.
Peterffy remains cautious about the future of cryptocurrency despite the desire to buy more bitcoin. He said:
Chances are very high that (Bitcoin) will become worthless or outlawed.
A ban on crypto may be possible, the billionaire warned, noting that officials are concerned that cryptocurrencies are being used to “provide funding for illegal activities.” He also noted the U.S. Treasury Department’s inability to control payments or collect taxes. Additionally, he noted the inability of the U.S. Treasury Department to “control or track payments and collect taxes.”
Peterffy warned that inflation hitting a 40-year high in June:
I believe inflationary pressures will continue for years, not months. This is not a short-term issue.