- Thomas Peterffy owns Bitcoin for an unusual reason.
- He says that cryptocurrency activity at IBKR has been very slow.
- BTC is trading well below the $30,000 level today.
Interactive Brokers – a 24/7 bitcoin trading services company, reported weaker-than-expected earnings for the first fiscal quarter this week.
Chairman Peterffy offered BTC
On Wednesday, while discussing the earnings report with CNBC’s Andrew Ross Sorkin, the company’s chairman said he owns bitcoin albeit for an unusual reason.
As far as I’m concerned, it just isn’t worth it. But I own some even though I think they’re worth something because others think they’re worth something.
Thomas Petrffy also revealed that he has no view on where the bitcoin price might go from here.
The world’s largest cryptocurrency is trading well below the $30,000 level today perhaps as investors move to take advantage of its massive rally to the upside in recent months.
Cryptocurrency trading has been slow for IBKR
Interactive Brokers reported a 21% year-over-year increase in client accounts in the recently ended quarter, to 2.20 million.
Chairman Thomas Petrffy revealed the contribution of cryptocurrency to the platform’s financial performance in the first quarter of the year, on CNBC’s Squawk Box:
Crypto activity on our platform is very slow. We do not hold cryptocurrency – this may be a reason. But in general, cryptocurrency trading is much reduced than it was a year or two ago.
He doesn’t have a bullish view of the stock market and said the S&P 500 should be trading 20% lower than it is now.