Thomas Peterffy, founder of the retail brokerage firm Interactive Brokers, spoke out regarding the increase in the price of bitcoin (BTC). After having pointed out, years ago, that cryptocurrencies had no intrinsic value, he now recommends making investments in these assets.
And although he confessed that he has “a little bit of bitcoin” since 2021, he remains cautious. In interview with the Bloomberg team Peterffy recommended to investors who only had 2-3% of their net assets in bitcoin.
“I’ve invested a little bit of money in cryptocurrencies myself, because while I think it’s probably not a viable market, there’s a small chance of it becoming a dominant currency, so you have to play the odds.”
Thomas Peterffy.
Following this premise, he assured that his company only allowed its clientele to invest up to 10% of your total assets in cryptocurrencies.
Due to the rise in the price, Peterffy believes that everyone who does not have bitcoin should find ways to own something, but not too muchdue to the associated risk of price fluctuations. He predicts, in that sense, a market decline.
Peterffy isn’t sure, but he thinks the price of BTC could plummet to zero or skyrocket to $1 million. “I have no idea,” he said.
The billionaire is still concerned that cryptocurrencies are as valuable as paper currencies. However, he advised using cryptocurrencies as a hedge against the fall of fiat currencies.
The concerns that the billionaire expressed about the volatility of the main digital currency have been expressed for several years. As CriptoNoticias reported, already in 2022 (in the middle of the bear market) Peterffy was talking about BTC could lose value and I even thought it could be outlawed.
Despite this, since 2022 his brokerage firm allows the purchase and sale and custody of BTCETH, LTC and BCH in conjunction with Paxos Trust. The billionaire confessed at that time that the decision to incorporate crypto assets responded to the interest of his clients.
«Customers are certainly requesting it [comercio de criptomonedas] and we are going to offer it to you,” said the billionaire when announcing the incorporation of cryptocurrency services.
Interactive Brokers LLC is one of the largest online brokerage firms in the United States by average daily trade volume, with over $3.31 million.