Billionaires ignoring fiat over crypto: report
According to research, the majority of billionaires are feeling fear because of inflation in the economy and they see Crypto as an option.
After the wave of the corona pandemic, the global economy shook and that is trying to push people toward the best tool to fight against the unstable economy. Due to the pandemic, the Federal Reserve brought new rules and systems to print unlimited fiat money to fight against the disturbed economy because of the recent pandemic situation.
Many wealthy people raised their voices against such increasing inflation of fiat money. In this list, popular personalities like Former Twitter CEO Jack Dorsey, Rich Dad Poor Dad author Robert Kiyosaki, Tesla CEO Elon Musk, Shark Tank star Kevin O’Leary and also many billionaires are involved.
The research found that many people, who were against the crypto or not supporting the crypto & Bitcoin industry, started to step in with Bitcoin to invest, to take an easy breath against inflation.
Thomas Peterffy is a Hungarian-based billionaire. Thomas shared his interest in crypto & Bitcoin in speaking with Bloomberg Saturday. He said that it will be better to go with crypto assets with 2-3% investment if in any case, fiat goes to hell.
In 2020, Interactive Brokers Group Inc announced to allow its clients to trade with the crypto assets. Its owner Peterffy owns an undisclosed amount of crypto assets and he said that it will be supportive for him, if in any situation non- crypto will go toward zero and crypto assets will move toward a rapid surge in price.
Bridgewater Associates founder Ray Dalio is also one of the popular billionaires, who confirmed that he owns Bitcoin and Ethereum in his portfolio. Recently he stated that cash is trash and the potential of cash keeping down to buy the fiat by 5% every year.
These are only a few billionaires, which are active in the crypto industry. While there are several other crypto Investors, which are not interested to tell publicly.
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