IBKR chairman on bitcoin: ‘it’s worth nothing but I own some’

Posted on

  • Thomas Peterffy owns bitcoin for an unusual reason.
  • He says that crypto activity in IBKR has been very slow.
  • BTC is trading well below the $30,000 level today.

Interactive Brokers – A financial services company that enables trading 24/7 Bitcoin This week reported weaker-than-expected earnings for its first fiscal quarter.

Chairman Peterffy’s view on BTC

discussed on wednesday income report With CNBC’s Andrew Ross Sorkin, the firm’s president said he owned bitcoin, albeit for an unusual reason.

It’s not worth anything as far as I’m concerned. But I own something, even though I believe it is worth nothing because other people believe it is worth something.

Thomas Peterffy also revealed that he has no idea about where the bitcoin price could go from here.

The world’s largest cryptocurrency is trading well below the $30,000 level today as investors have moved to take massive gains in recent months.

Crypto trading has been slow at IBKR

Interactive Brokers reported a 21% year-on-year growth in client accounts to 2.20 million in the recently ended quarter.

Revealing how cryptocurrencies contributed to the platform’s financial performance in the first quarter, CNBC President Thomas Peterffy said,squawk box,

Crypto activity on our platform is very slow. We don’t hold crypto in custody – this could be a reason. But in general, crypto trading is down a lot compared to a year or two ago.

He also isn’t bullish on the equity market and said the S&P 500 should be trading about 20% lower than where it is right now.

Leave a Reply

Your email address will not be published. Required fields are marked *