Thomas Peterffy took out a full-page ad in the Wall Street Journal in 2017 warning of the dangers that bitcoin futures posed to capital markets. These days, the Hungarian-born billionaire is well versed in crypto speak.
Peterffy, worth $25 billion, said it’s prudent to have 2% to 3% of one’s personal wealth in cryptocurrencies, just in case fiat currency goes to “hell.” According to a report from Bloomberg, He owns some himself, while his firm Interactive Brokers Group Inc. recently offered customers the ability to trade Bitcoin, Ethereum, Litecoin, and Bitcoin Cash, after detecting “urgency” from its clients to get in on the action.
Peterffy, 77, said Greenwich, Connecticut-based Interactive Brokers will offer the ability to trade another five to 10 coins or so starting this month. It’s possible that cryptocurrencies could reap extraordinary returns — even if the opposite is also true, Peterffy said.
“I think it can go to zero, and I think it can go to a million dollars,” he said in an interview. “I have no idea.” His approach highlights the shifting attitude toward crypto by investors who once scorned or were wary of digital tokens but realized, especially in 2021,
that they can’t bear to miss out on the potential for big gains. Even as prices swung wildly, investors large and small dived into Bitcoin and Ethereum as well as non-fungible tokens, dog-themed assets and shitcoins, including the aptly-named $ASS Coin. You can read more on this report HERE.
