Why A Billionaire Bitcoin And Ethereum Skeptic Suddenly Just Flipped And Made A Wild Crypto Price Prediction

Bitcoin, Ethereum, and cryptocurrency have won some surprising naysayers in recent years as the price of the crypto market explodes.

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The price of Bitcoin, after rising through most of 2021, has started this year on a downtrend – despite a wave of bullish expectations for cryptocurrency prices for 2022.

Now, Wall Street billionaire Thomas Peterffy, who once warned that Bitcoin futures could “destabilize the real economy,” said investors should buy a small amount of cryptocurrencies like Bitcoin or Ethereum in case the dollar “goes to hell.” He predicted that the price of Bitcoin could eventually reach a million dollars.

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“Think [bitcoin] It could go to zero and I think it could be up to a million dollars,” said Petervi, Hungarian-born billionaire and founder of trading platform Interactive Brokers, Bloomberg. “I have no idea.”

Peterffy, who has a fortune of around $24 billion according to Forbes Calculating, he added that he believed it would be wise to invest between 2% and 3% of the wallet in cryptocurrency, just in case the state-backed fiat currency goes to “hell.”

Fears of high inflation in 2020 have caused the likes of famed investor Paul Tudor Jones to announce he is buying bitcoin, declaring it the “fastest horse to beat inflation” — helping the bitcoin price reach an all-time high of nearly $70,000 in November from last year. .

Last month, US inflation reached levels not seen since 1982, adding pressure on the Federal Reserve to speed up planned stimulus cuts and raise interest rates from record lows.

Leading figures from former Twitter CEO Jack Dorsey to former US first lady and presidential candidate Hillary Clinton have issued strong warnings about bitcoin’s impact on the dollar in recent weeks, with bitcoin’s biggest proponent predicting that it will eventually rise to several times its current price.

MicroStrategy

MSTR
CEO Michael Saylor, who has emerged as one of the most bullish bitcoin proponents after turning his business intelligence firm into a bitcoin takeover over the past 18 months, made an eye-catching bitcoin price prediction last year.

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Peterffy, four years after directing a full-page ad in The Wall Street Journal Warning about the risks of bitcoin futures to capital markets, he now admits to owning some bitcoin and says “urgency” from clients has prompted Interactive Brokers to start offering cash backing for bitcoin, ethereum, litecoin and bitcoin. Up to 10 more coins will be added this month although Peterffy hasn’t revealed any of them.

Wall Street Giants JP Morgan

JPM
To Goldman Sachs

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It started offering bitcoin and crypto services to clients this year with high demand along with cryptocurrency prices. Bitcoin is up only 44% since this time last year, with Ethereum up 266%.

Some smaller cryptocurrencies have jumped much faster than Bitcoin over the past 12 months — Ethereum competitor Solana has added 10,000% of cryptocurrencies, and the meme-based dogecoin is a favorite of Tesla.

TSLA
Billionaire Elon Musk, up 1,600%.

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