Thomas Peterffy invests in crypto in case ‘fiat goes to hell’

Billionaire and one-time crypto critic Thomas Peterffy has said anyone looking to diversify would probably do well to invest 2%-3% of their portfolio in crypto “just in case fiat goes to hell”.

A scenario where all fiat currencies lose their value is unlikely, but Peterffy wants to stay prudent. His firm, Interactive Brokers Group Inc, is already offering crypto trading to clients who are interested in various currencies, such as Bitcoin (BTC), Ether, Litecoin or Bitcoin Cash.

Peterffy himself is also interested in the “extraordinary returns” that cryptocurrencies may bring customers, however unlikely those are. He admits that a cryptocurrency can go to zero, but then again it can go to a million.

However, Peterffy is a part of a growing group of former critics who are now open to at least exploring crypto to maintain a healthy portfolio. Even Warren Buffett has withdrawn his public criticism of cryptocurrencies, out of respect for fellow investors. There have been opinions that Ethereum may prove the safest option yet against inflation.

Paul Tudor Jones, another billionaire hedge fund manager, said that BTC is a hedge against inflation, but how much investment is needed? Investors are free to disagree, but the truth is that no party would seek to invest the bulk of their assets into crypto.

If you want to use your crypto for recreational purposes, we recommend heading over to Bitcasino, 1xBit or FortuneJack.

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Updated: 01/04/2022 — 14:00