The great Wall Street Divide over whether Bitcoin is a miracle or a bubble continues to grow, with Interactive Brokerage founder Tom Peterffy expressing his concerns about a bubble. The trader/investor has said that the price spike may continue, even up to $100,000 or more, before the price crashes.
The warning from Peterffy included commentary that Bitcoin futures trading may well spell disaster for the entire financial market, with smaller brokerages going in on the cryptocurrency and then going bankrupt. He is restricting his own traders to long positions at $5 per contract (as opposed to the normal $.80) in order to protect the brokerage. He expressed his bewilderment, saying:
“I’m extremely curious, this is an amazing thing. How silly people are, it is just amazing.”