Billionaire / 3 posts found
This Billionaire Says Inflation Will Last ‘For Years’ And Bitcoin May Become ‘Worthless’
Thomas Peterffy, founder and CEO of Interactive Brokers listens a question after addressing the World Federation of Exchanges (WFE) annual meeting in Paris on October 11, 2010. The WFE groups leading financial markets. AFP PHOTO ERIC PIERMONT / AFP PHOTO / Eric PIERMONT (Photo credit should read ERIC PIERMONT/AFP via Getty Images) AFP via Getty Images Brokerage pioneer Thomas Peterffy spoke with Forbes about his economic outlook, and when he expects the market to bottom out. On Wednesday, the U.S. reported consumer inflation of 9.1% for the year through June. That number, a four-decade high, rattled markets as stock indices […]
Bitcoin billionaire Sam Bankman-Fried bails out embattled crypto firms BlockFi and Voyager
Bitcoin Sam Bankman-Fried, CEO of FTX US Derivatives, testifies during the House Agriculture Committee hearing titled Changing Market Roles: The FTX Proposal and Trends in New Clearinghouse Models, in Longworth Building on Thursday, May 12, 2022. Tom Williams | CQ-Roll Call, Inc. | Getty Images With no central bank willing to come to the rescue, beleaguered crypto companies are turning to their peers for help. Billionaire crypto exchange boss Sam Bankman-Fried has signed deals to bail out two firms in as many weeks: BlockFi, a quasi-bank, and Voyager Digital, a digital asset brokerage. FTX, Bankman-Fried’s crypto exchange, agreed Tuesday to […]
Billionaire Stanley Druckenmiller Says He Would Rather Own Bitcoin as Recession Beckons
Cryptocurrency American billionaire investor Stanley Druckenmiller warned the U.S. economy will slip into recession next year, and said that he would rather “own more bitcoin (BTC) than gold” amid rising inflation. Druckenmiller, founder of hedge fund Duquesne Capital, also said “we are six months into a bear market…it’s highly probable that the bear market has a ways to run” and that the stock market rout was not over just yet. Speaking at the virtual 2022 Sohn Investment Conference last Thursday, Druckenmiller said most indicators pointed toward an economy heading south. “Inflation has never come down without a recession and I […]