The number of billionaires that have turned to the crypto industry grew last year. This trend might continue in 2022 as concerns over fiat strengthen.
Even once being anti-crypto investors, increasingly turn to Bitcoin and other cryptos to avoid fiat currency inflation worries.
One example is Thomas Peterffy, a Hungarian-born billionaire who said that it would be wise to have 3-4% of the portfolio in crypto assets. He said that everybody should do that just in case fiat fails.
Peterffy’s company, Interactive Brokers Group Inc., reported that it started offering crypto trading to its clients in 2020. It happened after increased demand for the asset class. The company currently offers Ethereum, Bitcoin, Litecoin, and Bitcoin Cash but plans to expand the list by another 10-15 coins this year.
Peterffy holds an unrevealed amount of crypto himself. According to Bloomberg, he said that digital assets could generate extraordinary returns even though some of them might also go to zero. He said that anything could happen as it is not easy to define what will happen in the future. He believes that if it doesn’t go to zero, it can go to a million dollars.
At the beginning of December 2021, the billionaire anticipated that Bitcoin could raise $100,000 before markets begin to relapse.
Ray Dalio, Bridgewater Associates founder, is another famous billionaire that revealed his portfolio. He said that it contained some Bitcoin and Ethereum last year. It came just a couple of months after he examined properties of the crypto as a store of value.
He now views crypto-asset investments as alternative money in a world where cash is litter with inflation corrupting purchasing power. Another Billionaire, Paul Tudor Jones, also purchased Bitcoin in 2021, marking it as a hedge against inflation.
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