update 18 August 2021

Thomas Peterffy Admits He Owns Cryptos Despite being Skeptical Earlier 

Thomas Peterffy, founder and Chairman of Interactive Brokers, revealed he had invested in digital currencies. However, he did not reveal which cryptocurrencies he owns. He further said that the clients of his company have been showing massive interest in digital assets services.

The billionaire founder said he had placed a little bit of money into crypto. However, he noted that despite the chances pointing that this is not going to be a viable market, he still thinks that there’s a slight chance that this will be a dominant currency, so people have to play the odds.

Peterffy has previously lacked confidence in Bitcoin, the world’s largest cryptocurrency by market value. However, in 2017 Bitcoin surged more than 1,700 percent this year to above $19,000; Peterffy said Bitcoin is an emotional product.

He added that it lacks rhyme or reason for having the price that it has. But he also noted that it could be significant. He said there’s a small probability that it could become prevalent.

Interactive Brokers

Peterffy is a well-known name in the brokerage industry. He founded the online discount brokerage company Interactive Brokers Group, a Connecticut-based brokerage company that offers different investment instruments, including stocks, options, and forex.

It has about 1.4 million customer accounts and $330.6 billion in customer equity as of the first quarter. In addition, the company has over 200 clients globally on the different investment instruments with a single integrated Interactive Brokers account.

The founder is the largest shareholder of the company’s most significant subsidiary. According to Forbes, Peterffy’s net worth is $20.9 billion.

Latest Bitcoin Recovery

Bitcoin has recovered from a monthly low this week. Its price spiked above $32,000 on Thursday after once again testing the critical $29k support level on Tuesday for the first time since June 22.

Billionaire Elon Musk confirmed that he owns the cryptocurrency and has held it for a long while despite his recent criticism of bitcoin mining and its environmental impact. Tesla is planning to accept bitcoin again as a form of payment once the mining rate for the cryptocurrency attains 50% renewables.

Musk revealed that bitcoin is his largest cryptocurrency holding, above ethereum and dogecoin. He shared this information on Wednesday during “The B-Word” conference. However, he didn’t specify the figures.

Movers and Shakers of Digital Currency

Other prominent figures in the crypto community who have made billions from their investments include ‘Nakamoto,’ the pseudonym used by the person who created bitcoin, and Chris Larsen, who made his crypto fortune and has a net worth of around $7.5bn to $8bn.

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Joseph Lubin believes he has amassed a cryptocurrency net worth between $1bn to $5bn. Cameron and Tyler Winklevoss also have a combined crypto-wealth of more than $1bn. These are the movers and shakers in the digital currency world, including others not mentioned.