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‘Wolf of Wall Street’ Says Bitcoin (BTC) Will Evaporate Like a Mirage

by Seth Mek on August 28, 2018

Jordan Belfort, aka, the “Wolf of Wall Street” believes that Bitcoin is going to be a bust. The former penny-stock broker who plead guilty to fraud charges in 1999 is no stranger to espousing negative rhetoric about Bitcoin and the cryptocurrency market in general.

Speaking to CNBC for the documentary “Bitcoin: Boom or Bust”, Belfort expressed his staunch belief that BTC and Crypto investors alike are headed towards a sad ending. According to Belfort, BTC is next new scam.

“I was a scammer. I had it down to science, and it’s exactly what’s happening with bitcoin. The whole thing is so stupid, these kids have gotten themselves so brainwashed.”

“This thing [Bitcoin] is going to evaporate like a mirage. There’s a lot of really honest people who are going to get slaughtered.”

The Long Island-based Stratton Oakmont chief also predicted that BTC would be dead within a year. According to Belfort, BTC’s death will echo across the globe describing it as “the bust heard around the world.”

These comments aren’t the first BTC obituary issued by Belfort. Speaking during a Facebook video in June, Belfort said BTC would soon be dead. At the time, the top-ranked cryptocurrency was in the midst of a significant decline, and Belfort jumped on the doomsday bandwagon predicting the end of the road for the popular virtual currency.

Belfort has also aimed at the ICO ecosystem before, labeling the fundraising method as ‘the biggest scam’ in 2017. Belfort isn’t the only notable Wall Street crypto critic. Others like Jamie Dimon of JPMorgan and Warren Buffett of Berkshire Hathaway have also made similar proclamations on multiple occasions in the past. The ‘Oracle of Omaha’ once described BTC as ‘probably rat poison squared.’

I think it’s safe to say Mr. Belfort is going to be in for a rude awakening. What are your thoughts on the matter? Has Belfort lost the plot, or does he have a point? Share this article and let us know.

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