ChainCatcher message, Interactive Brokers' chief strategist Steve Sosnick pointed out last week that MicroStrategy's Michael Saylor's strategy is to issue convertible bonds and use the proceeds to buy Bitcoin, which is essentially the definition of leveraged trading------borrowing money to purchase financial assets.This approach works very well when the price of the asset moves in your favor, and Bitcoin has performed quite well. But if it moves in the opposite direction, this method can collapse in an unpleasant way. Steve Sosnick emphasized that MicroStrategy benefits from a "self-fulfilling feedback loop."It buys more Bitcoin, helping to push the price up, and then sells more debt and equity to buy more Bitcoin, further driving up the price. But such things never last forever and often end badly------the question is when? The short-term answer seems to be not yet.

ChainCatcher news, according to Jinshi reports, strategists believe that the speculative frenzy sweeping Bitcoin and crypto-related stocks in 2024 is unlikely to fade in the new year. Steve Sosnick, Chief Strategist at Interactive Brokers, stated, "2024 is a year of speculation, and in recent weeks it has evolved into a self-fulfilling frenzy. Although these trades sometimes encounter trouble, the latest being after the Federal Reserve's December meeting, investors have remained willing to buy on dips.Sosnick said, "When something has been used by many people for a long time, they are reluctant to give it up." And these trades have indeed been effective. Following expectations that Trump's election would create a friendly regulatory environment for cryptocurrencies, Bitcoin reached an all-time high of over $100,000 in December. Crypto-related stocks have also been on the rise, with software company and Bitcoin hoarder MicroStrategy leading the way, up more than 400% this year.

ChainCatcher news, according to Bloomberg, Thomas Peterffy, the founder of Interactive Brokers with a market value of $53 billion, recently expressed his views on Bitcoin investment, suggesting that investors allocate 2% to 3% of their net worth to Bitcoin, while emphasizing that the platform limits clients' Bitcoin investment to a maximum of 10% of their total assets.Peterffy expressed concerns about the price volatility of cryptocurrencies, believing that Bitcoin is similar to paper dollars in that it "has no intrinsic value," but still recommends that investors hold it in moderation. Since 2021, Interactive Brokers has opened cryptocurrency trading services for users, including Bitcoin, Ethereum, Litecoin, and BCH, through a partnership with Paxos Trust Co.

ChainCather news, global electronic broker Interactive Brokers (NASDAQ: IBKR) announced the launch of cryptocurrency trading in the UK as a new feature of its platform. Individual and institutional investor clients of Interactive Brokers (UK) Limited (IBUK), including financial advisors, can now trade cryptocurrency assets such as Bitcoin, Ethereum, Litecoin, and Bitcoin Cash on the trading platform.

ChainCatcher news, Interactive Brokers has announced the launch of spot Bitcoin and Ethereum exchange-traded products (ETP) in Hong Kong.According to the introduction, qualified clients can trade the new spot Bitcoin and Ethereum ETPs, as well as stocks, options, futures, currencies, bonds, and funds, through a unified platform. Clients can purchase spot Bitcoin and Ethereum ETPs through their IBKR brokerage accounts and add cryptocurrency exposure to their portfolios without directly owning digital assets.

ChainCatcher news, BC Technology Group issued a voluntary announcement, its Hong Kong licensed virtual asset exchange OSL collaborates with Interactive Brokers to provide one-stop instant digital asset trading services for Interactive Brokers' retail users in Hong Kong.

ChainCatcher news, according to a post by David Friedland, Managing Director of Interactive Brokers Asia Pacific, on LinkedIn, the brokerage firm Interactive Brokers Hong Kong has obtained a license for virtual asset trading for retail clients in Hong Kong, allowing the trading of Bitcoin and Ethereum. However, no official announcement has been made yet.

ChainCatcher news, brokerage giant Interactive Brokers stated in a document that its cryptocurrency holdings grew by 27% in the first quarter of 2023, with client-held cryptocurrency assets increasing to $109 million. Of this, $66 million is in Bitcoin, $40 million is in Ethereum, and only $3 million is in other cryptocurrencies. Its cryptocurrency assets account for a small portion of its total assets, which were approximately $100 billion in the fourth quarter of 2022.It is reported that Interactive Brokers launched its cryptocurrency services in September 2021 and has obtained permission from the Hong Kong Securities and Futures Commission to provide virtual asset trading services starting from the first quarter of 2023, with Paxos Trust Company responsible for execution, clearing, and providing cryptocurrency custody services. (source link)