During the latest interview with CNBC, Thomas Peterffy, billionaire, founder, and CEO of Interactive Brokers confirmed the speculations about investing in crypto. Serving as both chairman and founder of one of the leading trading platforms, Mr. Peterffy’s latest move is shaking up the already tense crypto-scene. Especially if you consider that Mr. Peterffy’s current net worth is 21.4 billion, according to Forbes.
Interactive Brothers (Nasdaq: IBKR) supports more than 1.33 million accounts. As a result, for the first quarter of this year, the company operates with 330.6 billion in customer equity. To achieve these numbers, the company offers its services to clients from more than 200 countries worldwide. Services that include the Interactive Brothers expertise in stocks, bonds, staking, trading, futures, managing funds… In addition to a plethora of other professional trading features and tools.
Consequently, being the online trading powerhouse that Interactive Broker is, any such move is bound to receive attention. When giving the CNBC interview, Thomas Peterffy made sure to emphasize that they recognize the need to ‘go with the flow’ and start investing in crypto:
…”Even I myself have put a little bit of money into crypto, because even though chances are, I think, that this is not going to be a viable market, I think that there’s a small chance that this will be a dominant currency, so you have to play the odds”…
However, we can easily say that this comes as a surprise up to a degree. In particular, if you consider that Mr. Peterffy used to be somewhat critical of Bitcoin. And all other cryptocurrencies for that matter. In fact, it was back in 2017 while CME Group was finalizing the launch of Bitcoin Futures when he publicly expressed his concern:
…“What I am objecting to is linking bitcoin and other cryptocurrencies by federal regulations to the real economy, which would happen if we were to clear bitcoin along with other products in the same trading house.”…
Despite this semi anti-crypto stance, Interactive Brokers is still making crypto-investments. Not only that, but this will eventually result in the company’s very own cryptocurrency trading feature. In fact, Mr. Peterffy expects the crypto-trading feature to be complete by the end of the summer. It is safe to say that the high customer demand for crypto-trading is what swayed Interactive Brokers to disburse on implementing crypto in their platform.
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