'Father of High-Frequency Trading' Thomas Peterffy: Everyone should own some Bitcoin, but not too much

Thomas Peterffy, founder of Interactive Brokers, known as the 'Father of High-Frequency Trading,' stated that investors should own some Bitcoin, but their holdings should be limited due to the volatility of Bitcoin prices.

Thomas Peterffy said in an interview with (Bloomberg TV) on Wednesday:

I recommend that people invest 2% to 3% of their net assets in Bitcoin… For example, we do not allow anyone to invest more than 10% of their assets in Bitcoin, because I think this is very dangerous.

According to the Bloomberg Billionaires Index, Thomas Peterffy's net worth is approximately $53 billion. He stated that he is "a bit afraid" of cryptocurrencies due to the severe price fluctuations of Bitcoin.

Thomas Peterffy said that Bitcoin "has no intrinsic value," and "its only value is the same as that of U.S. dollar bills, basically nothing (Nothing)."

Interactive Brokers launched cryptocurrency trading in 2021, allowing users to buy and sell Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH), primarily through a partnership with the cryptocurrency brokerage Paxos Trust.

Thomas Peterffy stated: "I think anyone without Bitcoin should own some Bitcoin, but not too much."

Thomas Peterffy revealed in 2021 that he holds some Bitcoin, saying at the time: "The likelihood of Bitcoin becoming a dominant currency is very small, so you have to take a gamble."

In a recent interview, he also discussed the biggest impact expected from the Trump administration coming into office, which will be less regulation and less interference with private enterprises. He is "extremely optimistic" about the next four years. However, he also expressed concerns about the market possibly overheating regarding all policies supporting economic growth.

Thomas Peterffy said, "At some point in the future, the market will show a downward trend," "but I don't think it will be a very sharp decline, and it won't last very long."

"'Father of High-Frequency Trading' Thomas Peterffy: Everyone should own some Bitcoin, but not too much" was first published in (Blockchain).