Billionaire Thomas Peterffy Says Bitcoin Has “High Chances” Of Becoming Worthless

American billionaire Thomas Peterffy changes his opinion on crypto

Peterffy who once said investors should consider holding 2%-3% of their wealth in crypto to hedge against fiat currencies, now has no confidence in crypto.

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In a recent interview with Forbes, Peterffy said bitcoin has a very high chance of becoming worthless or outlawed.

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The American businessman believes the U.S. government could seek to ban crypto amid concerns about digital assets being used for illegal activities.

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He also cited the U.S. Treasury Department’s inability to “control or keep track of payments and collect taxes as a reason for bitcoin to become outlawed.

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Peterffy still believes there’s a chance that Bitcoin will become very valuable.

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However, Peterffy has not completely written of cryptocurrencies just yet.

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The American businessman continues to hold some Bitcoin and plans to buy more if it hits $12,000.

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