Over the last few years, cryptocurrencies have made quite the mark in the crypto space. One of the reasons why a great number of people were inclined towards crypto in 2021 is the shift in the economic system that led to inflation, due to the COVID-19 pandemic.
Many people found crypto assets to be the solution to inflation. According to reports, the same fear of inflation is now driving more billionaires towards adopting crypto. Several billionaire names have expressed their support for digital assets in the previous year. Even though the year 2022 has just begun it has carried the same sentiments from the billionaire investors.
Despite the fact that the prices of some of the major digital assets have been plunging, the inclination of billionaires towards crypto can indicate the undeniable significance of the asset class.
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What to Know About the Billionaires Supporting Crypto?
The concerns regarding fiat inflation have noticeably increased, which has led many people to understand the importance of crypto, especially the ones who were not in favor before.
One of the billionaires in the corner of digital assets is Thomas Peterffy. He was born in Hungary and is reportedly worth $25 billion.
Peterffy recently stated that it would be a wise initiative for everyone to have at least 2-3% of their portfolios in digital assets. This is just in case the fiat currencies crash in the future.
The Hungarian-born billionaire also owns a company called Interactive Brokers Group Inc. that had planned to support crypto trading starting from the mid of 2020. As of now, the firm supports:
- Bitcoin Cash
Considering the demand in this asset class, Peterffy’s firm has decided to offer support to 5 to 10 more coins this month.
Thomas Peterffy also owns a large amount of crypto, which is not disclosed. Last month, he predicted that the price of Bitcoin would go as high as $100,000. Even though that has not been fulfilled, Peterffy seems optimistic about the crypto space.
Ray Dalio, founder of Bridgewater Associates, is also one of the popular names who now holds crypto assets after initially questioning their store of value. The inflation rate also convinced Dalio regarding the significance and utility of crypto assets who now states that crypto is “alternative money”.
Therefore, if you have also been thinking about stepping into the crypto space then make sure you choose a secure platform. However, if you are interested in trading crypto then make sure you read our crypto day trading guide first.
What Should Novice Investors and Traders Know?
It is a fact that the crypto space is volatile and buying or trading crypto without proper information can be risky and even stressful. However, the utility and prominence of digital assets cannot be denied as they offer a solution for fiat inflation and several other problems.
The prices of digital assets such as BTC or ETH might not be as high as expected but it does not negatively impact their value.
Therefore, if you want to invest in digital currencies or are interested in crypto margin trading then make sure you choose suitable exchanges.
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