Thomas Peterffy stated on Thursday that he has invested in cryptocurrencies but remains sceptical of the digital asset class’s long-term prospects.
“I have put a little money myself into my crypto,” said the milliardaire’s founders and president of Interactive Brokers about “Closing Bell.” “While it is possible, in my opinion, that the market will not be viable, I believe the chance that it will be the dominant currency is small, and you will thus need to play the odds,” he said. He didn’t say what type of cryptocurrency or currency he owned.
Interactive brokers are planning to launch a crypto-currency trade before the end of the summer, which will be a significant step toward e-reputation brokers serving more sophisticated customers.
Peterffy, in particular, expressed reservations in 2017 when CME was preparing to launch bitcoin futures, the world’s largest crypto-currency by market value.
Peterffy stated at the time that CNBC did not object to people trading Bitcoin and other cryptocurrencies, but warned about “real economy links between Bitcoin and other cryptocurrencies via federal rules.”
In terms of Interactive Brokers’ upcoming crypto trading launch, Peterffy stated that “several of our clients expressed an interest” in being able to invest in digital assets. “And I completely comprehend it,” he added.
Many in the crisis-currency industry believe Bitcoin is a long-term store of value and believe it, along with blockchain-based digital assets, has the potential to disrupt the traditional financial system. The billionaire’s Twitter and Square CEO, Jack Dorsey, stated earlier this week that he hopes Bitcoin “helps to build peace in the world.”
Bitcoin was up by 7%
On Monday afternoon, bitcoin was up nearly 7%, trading around $31,800. According to Coin Metrics, the historically volatile crypto-currency has traded to $32.765 per day. The increase occurred for the first time since June 22nd, just one day after Bitcoin fell below $30,000. Bitcoin is still about 50% lower than its all-time high of around $65,000 in mid-April.
Bitcoin’s growth was fueled in part by increased adoption during a massive rally that began last year and ended in April by high-profile investors and institutions.