Another billionaire clings to cryptocurrency to cover this risk

American billionaire Thomas Peterffy once said that cryptocurrencies pose a risk to capital markets. According to the report, in the 2017 Wall Street Journal full-page ad, he called out Bitcoin futures as a threat to the security of the investment market and criticized cryptocurrencies.

But now the fortunes of the $ 25 billion rich are starting to change, ”he said.

Recently, in order to meet the needs of consumers, Peterffy Interactive Brokers (Interactive Brokers Group Inc.) has also started to provide consumers with cryptocurrency-related services. Peterffy also said he owns bitcoin and that Interactive Brokers will launch another cryptocurrency market starting this month.

It should be noted that investing in cryptocurrencies can lead to huge gains or losses. Peterffy, 77, recalls:

"I think Bitcoin may be worth zero or as high as a million, but I don't know what will happen in the end."

Peterffy's change in his way of thinking about cryptocurrencies was a phenomenon in the beginning, almost everyone was criticized or cautious about cryptocurrencies, but in the face of Bitcoin's collapse in 2021, he cannot not stand out from the big advantages. Despite the price turmoil, traders of all sizes have flocked to Bitcoin, Ethereum, and other tokens.

In the past, Ray Dalio, founder of Bridgewater, the world's largest investor, has also questioned whether cryptocurrencies are a way to hold assets, but months later he added Bitcoin and Ethereum because his data still contains it. Special information is not known. Dario said that such an investment is another advantage in a market where inflation is rising.

Another guy, Paul Tudor Jones, announced that he still holds cryptocurrencies to cover financial risks.

Despite the potential for mixed success, it cannot be ruled out that cryptocurrencies are slowly gaining ground in finance.

Galaxy Digital CEO Michael Novogratz said last month that there will be many bubbles in the cryptocurrency market in 2021 and cryptocurrency prices may change in the near term. Invest in the cryptocurrency and cryptocurrency market.

However, it is estimated that Bitcoin's price support will not fall below this position around $ 42,000. Novogratz says:

"There is too much money in this space, and it just doesn't make sense if the price of Bitcoin is below that level."