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Investors warn of bitcoin-driven financial crisis

December 4, 2017 7:49 PM
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Investors warn of bitcoin-driven financial crisis

Mubasher: Billionaire Thomas Peterffy, the CEO of Interactive Brokers Group has warned that authorizing the trade of bitcoin futures can lead to a new financial crisis like that Lehman Brothers or worse.

While the bigger clearing houses would be able to absorb the risk, the smaller ones could burn through their liquidity trying to cover the bad bitcoin bets. If that happens, it could contaminate the entire system, explained, in an interview with Fortune magazine.

“The issue is they’re putting bitcoin in the same basket as US Treasuries, stock-index futures, and all the really serious products,” he added.

Source: english.mubasher.info

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