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Billionaires Are Embracing Crypto in Case Money ‘Goes to Hell’

Brokerage founder Thomas Peterffy says its prudent to have some crypto, while Ray Dalio views it as alternative to cash.

Video player cover image — What to Expect for Cryptos in 2022

By

Scott Carpenter and

Claire Ballentine

January 1, 2022, 2:00 PM UTCUpdated onJanuary 3, 2022, 10:26 PM UTC

Thomas Peterffy took out a full-page ad in the Wall Street Journal in 2017 warning of the dangers that bitcoin futures posed to capital markets.

These days, the Hungarian-born billionaire is well versed in cryptospeak. Peterffy, worth $25 billion, said it’s prudent to have 2% to 3% of one’s personal wealth in cryptocurrencies, just in case fiat currency goes to “hell.”