If you are going to quote someone, quote Jamie Dimon, Michael Novogratz or someone who either has good knowledge of the space or just trading and investment management in general. Peterfly built a good brokerage company worth 20B and thats great, As far as investing or understanding anything about trading or asset management, not sure I would listen to him. They lost Timberhill while waiting for a vix spike for the past 5 years, preaching about it to everyone and did make all sorts of odd business decisions. He has a good brokerage because of low fees and access to markets, that means he knows how to run a business, not how to trade, its not a hedge-fund, not an investment bank or even a payment system processor. I am not promoting bitcoin here, just saying what Peterfly thinks about it, is completely irrelevant. I would watch what JPMorgan, Goldman, Citi and other banks are doing with investments into block-chain and advising on bitcoin and also how much of the hedge-fund capital is flowing into the crypto markets, thats the real indicator of what institutional capital thinks of bitcoin. As far as allowing for bitcoin to trade, they can't really do that, its not listed anywhere, if it gets listed as an etf or futures contract or index options will be allowed, then they'll have an option of allowing it to trade. Ib is simply providing an ability to trade on registered exchanges. Its not like if you want to trade gold you show up with 2 bricks at their headquarters and get cash you trade futures or an etf. So the question kind of does not make sense and so he gave the "haha bitcoin whatever" answer, I think what he meant to say is: once it is properly regulated, listed, taxed then you will see it on our system.
BItcoin is listed and tradable with an interactive brokers account. Look at symbol GBTC on us exchanges and bitcoinxb on the Swedish exchange.
This is on my IB tradestation: I have no Swedish quote-subscription (so no Swedish Bitcoin ETN feed). But the American GBTC is tradable (picture taken before exchange open). I'm quite an expert in IB's TWS software (at code level), and know it would be quite an investment for them to implement and offer crypto Currencies. So for sure Petterfy will not offer that within 10 years. But if/when SEC approves an ETF, or the CFTC allows Bitcoin Futures and Options, I'm very sure IB will offer those immediately.
GBTC is garbage stay away from it, it does not reflect the price of bitcoin. It is overpriced at some point it was priced x2 the price of bitcoin.
It's overpriced indeed, just because it's used for IRA portfolios (the tax return cancels out the premium against real Bitcoins). It will have this premium until the SEC approves a real ETF (may take years, though).
If you are long bitcoin than you can short GBTC if you think it is overvalued. Ethereum just launched on the Swedish exchange. If IB add that then you could short Bitcoin and be long Ethereum if you think that will outperform as it has a programming language on the blockchain or vice versa.
You must be joking. With all the infrastructure they already have, what epic complication would there be. Other than you're probably buying from a drug dealer and selling to a money launderer.
How does one launder money with bitcoin? I keep seeing this. Cash is more anonymous than bitcoin and it still needs to be laundered the old fashion way. How would bitcoin be any different?