Thomas Peterffy, the founder of Interactive Brokers, shared the bottom level where he will buy Bitcoin. The American billionaire predicts that the ongoing financial crisis, especially record inflation in the US, will continue over the next few years.
Thomas Peterffy will buy Bitcoin if it drops to this level
Thomas Peterffy, founder and chairman of Interactive Brokers, thinks that as a result of concerns that they are promoting illegal activities, the US government may ban cryptocurrencies outright. Still, the millionaire says he will buy more Bitcoin if its price drops to $12,000.
In a recent interview with Forbes, Peterffy also evaluated the current financial crisis. In particular, he predicted that the historic inflation of the United States would continue for several more years:
I think there will be inflationary pressures for years, not just a few months. This is a long term problem.
He cited a number of variables to support his dire prediction, such as supply chain disruption, a shortage of skilled labor and expanding automation, years of US deficit spending, rising interest rates, and more as globalization “reverses”. In this environment, Thomas Peterffy advises investors to focus on potential public companies during the current instability, as “this is a great time to research and hoard company stock.”
Famous billionaire says he will buy BTC despite risk of ban
The billionaire later warned against investing in cryptocurrencies as there is a “high risk” that Bitcoin will “become worthless or be banned.” According to him, cryptocurrencies are frequently used in illegal activity. This may cause the US government to ban cryptocurrencies.
Peterffy will continue to buy Bitcoin despite the warning. He announced that he will expand his position if the price of Bitcoin drops to $12,000.
Thomas Peterffy’s earlier predictions
The Hungarian-born businessman dedicated some of his fortune to cryptocurrencies more than a year ago. However, he did not provide details on which cryptocurrencies he chose. For a scenario where cryptocurrencies surpass fiat worldwide, he says:
Even I invested a modest amount of money in cryptocurrencies. Because although I believe there is a very limited probability that this will become a practical business, you have to play the odds.
Interactive Brokers allowed Bitcoin trading services for their clients last summer. Peterffy cited the growing need for cryptocurrency opportunities as the reason. It also promised investors that the services would provide the best possible security. More than 1.6 million corporate and individual brokerage house clients work with Interactive Brokers. The company manages $370 billion in equity.
As we quoted as Kriptokoin.com, there are other experts waiting for a drop in Bitcoin.
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