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Billionaire Thomas Peterffy, Chairman of Interactive Brokers, recommends a cautious approach to Bitcoin investment, suggesting a 2% to 3% allocation of net worth, while warning that exceeding 10% could be "too dangerous." He expressed concerns about the volatile nature of cryptocurrencies, emphasizing their lack of intrinsic value and the risks of excessive leverage leading to potential market crashes.Peterffy's views resonate with industry veterans like Bill Miller, who advocate for modest Bitcoin allocations. Meanwhile, businesses are increasingly incorporating Bitcoin into their treasury reserves, with firms like Rumble and various biotech companies allocating significant funds to the cryptocurrency as a hedge against inflation.
India's Chief Economic Advisor, V. Anantha Nageswaran, advocates for regulatory frameworks that promote cryptocurrency innovation while ensuring transparency and accountability. He emphasizes the need for regulators to balance innovation with societal needs, particularly addressing financial illiteracy. Amidst ongoing uncertainty in the crypto sector, India continues to see significant adoption, highlighted by Jetking Infotrain's recent addition of Bitcoin to its corporate treasury.
Jetking Infotrain has become the first publicly listed company in India to hold Bitcoin, acquiring 12 BTC valued at approximately $1.2 million, which constitutes over 26% of its market capitalization of $4.5 million. CEO Avinash Bharwani emphasized the company's strategy to integrate Bitcoin into its treasury for long-term growth while engaging with regulators for compliance. This move reflects a broader trend of increasing institutional interest in cryptocurrency, as companies globally diversify their treasury assets amid changing economic conditions.
Jetking Infotrain Limited
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
billionaire warns against excessive bitcoin exposure for investors
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14:14 12.12.2024
India's chief economic advisor advocates for balanced crypto regulation and innovation
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12:41 10.12.2024
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