Billionaire Thomas Peterffy plans to buy more bitcoin despite concerns that the cryptocurrency could 'become worthless or outlawed.' crypto $BTC
, stating that “there’s a small chance that this will be a dominant currency, so you have to play the odds.”
He told Forbes last week that he still believes bitcoin could become very valuable despite the recent crypto market sell-off. He added that he is still holding some and plans to buy more if the price of the cryptocurrency hits $12,000. At the time of writing, bitcoin is trading at $20,739. Despite planning to buy more bitcoin, Peterffy remains cautious about the future of the cryptocurrency. He stressed:The U.S. government could seek to ban crypto, the billionaire warned, noting that officials are concerned that cryptocurrencies are being used to “provide financing for illegal activities.” He also noted the U.S. Treasury Department’s inability to “control or keep track of payments and collect taxes.”I believe inflationary pressures will continue for years, not months.
The billionaire proceeded to share his outlook for the stock market, predicting that U.S. equity markets could hit bottom as soon as the fall and the S&P 500 could decline 22% to $3,000 around October. “Eventually rising prices will catch up with stocks … stocks will enter a long bull market propelled by inflation,” he opined.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Becca Kufrin, Thomas Jacobs Buy a House to Fill 'With Love’ and ‘Babies’'Bachelor in Paradise' alums Becca Kufrin and Thomas Jacobs announced their engagement in late May — details
Read more »
UPenn nominates transgender swimmer Lia Thomas for NCAA’s ‘Women of the Year’ awardThomas is one of 577 graduating female student athletes nominated by their schools for the prestigious award, according to the NCAA.
Read more »
Still no arrests in shooting that killed baby Cecelia Thomas in South Shore -- where's the outrage?After three weeks, there has still been no arrest in the shooting that killed 5-month-old Cecelia Thomas as she rode in a car in South Shore.
Read more »
Lia Thomas nominated for NCAA Woman of the Year award by her universityShe was the first transgender athlete to win an NCAA Division I title after finishing first in the women's 500-yard freestyle championship.
Read more »
Swimming-Trans woman Thomas nominated for NCAA Woman of the Year awardThomas shot to fame earlier this year when she became the first transgender NCAA champion in Division I history after winning the women's 500-yard freestyle in March and she had hoped to compete for a place at the Olympics. But soon after, she became the focus of a raging debate when swimming's world governing body FINA voted last month to restrict the participation of transgender athletes in elite women's competitions. Thomas competed on Pennsylvania's men's team for three years before transitioning and moving to the women's team, setting multiple programme records.
Read more »
Trans woman Thomas nominated for NCAA Woman of the Year awardThe University of Pennsylvania has nominated transgender swimmer Lia Thomas for the 2022 NCAA Woman of the Year award, the American college sports regulating body said.
Read more »