US billionaire Thomas Peterffy, the founder of the Interactive Brokers trading platform, said that inflation would continue to rise and the cryptocurrency market would be under severe pressure. He also said he is hedging risks in bitcoin, but he keeps in mind that digital currencies can depreciate and be outlawed. However, the entrepreneur assured me he would buy many more BTC if the asset price exceeded the $12,000 mark.
He stressed several times that world inflation will persist for many years and is a global problem for the modern economy. According to him, as the Federal Reserve System (FRS) representatives raise interest rates, the amount that the country must pay to service the debt increases. The billionaire assured that this is a vicious circle that will eventually lead to the explosion of the money bubble.
Peterffy does not believe Fed Chairman Powell promised to reduce inflation significantly. On the contrary, he is sure that the organization’s actions will destroy the economy.
Earlier, the businessman stated that he was very positive about cryptocurrencies, but as the market crashed, he changed his point of view a little. The financier seriously feared that government authorities could do a lot to devalue bitcoin and other cryptocurrencies.
“This is because the US government has considered that digital can be used for illegal funding and cannot control taxation on them.”
Earlier, the Crypto.ru editors reported: that expert Mikael van de Poppe spoke about what awaits altcoins in the future. According to him, investors need to be patient because their rate will fall in the next few years, but then there will be an opportunity to get a tenfold profit.