⚯ Michel de Cryptadamus ⚯The chairman of #InteractiveBrokers (#IBKR) says in this interview on #Bloomberg ca. 10:00 that margins on bitcoin trading accounts are becoming increasingly large and unstable and he's "sort of scared of cryptos". Specifically he's concerned that a sudden 30% move in the price of bitcoin would bankrupt an incredible number of people, including a bunch of financial firms which could cause a ripple effect and take out some clearing houses.
Bear in mind that IBKR is on many metrics the largest electronic trading platform in the United States. You can trade stocks, bonds, options, etc. (and bitcoin). In other words this guy has seen the data and he found it Very Concerning.
#bitcoin #crypto #cryptocurrency #IBKR #stockmarket #markets #finance #financenews #BTC
Thomas Peterffy Talks Trump, M&A, Cryptocurrencies
Interactive Brokers Chair Thomas Peterffy discusses his expectations for a second Donald Trump administration, his firm’s growth prospects, and why he is “sort of scared of cryptos.” He speaks with Sonali Basak from a Goldman Sachs Group Inc. conference. (Source: Bloomberg)