Jordan Belfort, a motivational orator and ex-stockbroker, whose story was put in Martine Scorsese’s movie “The Wolf of Wall Street,” has called bitcoin into question once again.
In an interview with a businessman Patrick Bet-David, published on Facebook this week, Belfort said that BTC is a coinage of “financial anarchists.” At the same time, he does not think that this cyber currency is a fraud, but admitted that it was developed in an ideal “storm for manipulation.”
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Additionally, he said that people utilize BTC far from the mark, creating a lot of profiteering around its price.
“Something [BTC] was designed to be used as a currency, and it’s being used as an investment vehicle [...] As a currency, Bitcoin is no more useful at $20,000 or $100,” said Belfort.
Bitcoin’s Future Price in Belfort’s Eyes
Also, Belfort claimed he does not possess any virtual coin, and he believes that BTC itself is “a wolf in sheep’s clothing.” According to his words, the first cyber currency ever mined in the world could skyrocket to $50,000 before experiencing a devastating slump to zilch.
It is not the first time when the genuine “wolf” from the Wall Street does not speak in favor of cryptos. Last year September Belfort hinted at bitcoin’s insecurity. He said that the use of it could be dubious due to would-be cyber-attacks. Interestingly, the very next month he labeled initial coin offerings as the most massive fraud in the world.
To believe Belfort or not, is a private matter. But what everyone should be aware of is that this opinion leader once spent nearly two years in prison in the frames of an agreement, according to which he had to give evidence against his umpteen associates and inferiors in the scam shenanigan. Not long before that, in 1999, Belfort acknowledged guilt to the scam related to the stock-market scheme.