And finally… bit of a problem
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The billionaire CEO of a brokerage giant has warned that the Bitcoin craze could lead to a financial crisis similar to 2008.
Thomas Peterffy, CEO of Interactive Brokers, told Fortune that he relayed his concerns to the US commodities regulator, who is unable to intervene.
His warning comes two weeks ahead of the launch of a futures market for the digital crypto-currency.
Mr Peterffy said: “The issue is they’re putting bitcoin in the same basket as US Treasuries, stock index futures, and all the really serious products.”
He worries that a dramatic fall in the price of Bitcoin - as has happened in the past - could leave smaller clearing houses in debt and unable to cover their obligations.
A Bitcoin-related liquidity crisis at smaller clearing houses, although “unlikely”, would lead to “something like Lehman Brothers - or worse”, he said.
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