The pattern of traditional billionaires buying huge amounts of Bitcoin without making it public has been reoccurring for the last few years. There was a significant inflow of traditional billionaires to the Bitcoin market, following the intensity of inflation from last year.
Billionaires continue to secretly hold Bitcoin in large amounts
This year, the market is witnessing the same pattern, with some of the top dogs in the finance scene revealing that they’ve been holding Bitcoin for a long period. Billionaire Thomas Peterffy Pererffy, the founder and chairman of Interactive Brokers is one of such, who recently opened up to CNBC in an interview, noting amongst many interesting takes, that he’s been a Bitcoin holder for three years.
He made this known after being quizzed about his thoughts on leading institutions like AMC theaters’ recent move to accept Bitcoin along with other altcoins as payment mechanisms by the end of the year. Peterffy revealed that the move does not seem to make a lot of sense to him, “what are the advantages of these cryptocurrencies, visibly stablecoins?” He asked. Adding that for Stablecoins, there’s a small chance that their value might skyrocket and that it remains crucial to be exposed to them.
Peterffy chimes in on the Crypto regulations and SECs saga
Peterffy especially showed excitement for his company’s recent launch of cryptocurrency trading to their customers, noting that customers have been asking for exposure to digital currencies for the longest time.
“I’ve been itching to do this because many of our customers have been asking for this, especially registered Investment advisors whose clients are asking for some Crypto exposure. We’ve been wanting to do this for quite some time. Interactive brokers are now known for our low prices, good technology, and very broad product base.“
Furthermore, the billionaire gave his two cents about the state of cryptocurrency regulation in the United States. Following Gary Gensler’s recent appearance on CNBC, which saw him reiterate criticisms about the fraud, abuse, and hype around the space, Peterffy like many other crypto proponents share the same thoughts on what the market needs from the SEC going forward.
“The criticisms are fine, but we would like some regulation along with the criticism, because we really need to know what to do, and nobody is telling us. They just keep the option open of coming after us, two three four years down the road and then say, “let me see what you do, you’re not doing this and that right.” But I will say, you never told us. So I’d love to really know what we’re supposed to do.”