CCBeast Special

The “Wolf of Wall Street” Came Back!
Editorial Team

The so-called “Wolf of Wall Street” Jordan Belfort believes that Bitcoin is going to evaporate. The former penny-stocker broker who has pleaded guilty to fraud charges in 1999 is known for his negative rhetoric about Bitcoin and generally the crypto market.

Speaking to CNBC as part of a documentary titled “Bitcoin: Boom or Bust,” Belfort expressed his opinion that Bitcoin would have a very sad end. According to him, Bitcoin is a huge scam that will leave people broke.

During the interview, he also stated:

“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.”

Belfort justified his opinion saying that BTC fraud is driven by the Internet that has become a tool for manipulation. According to him, many ICOs are empty schemes doomed to fail and this is why the United States Securities and Exchange Commission should take a stricter stance against them.

He stated:

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

He also predicted that Bitcoin would be dead within a year describing it as “the bust heard around the world.”

Previously, Belfort speaking during a Facebook video in June said that BTC would soon be dead. At the time, Bitcoin was in the midst of a major bear run and he jumped on the doomsday bandwagon predicting the end of it.

Belfort has also aimed at the ICO ecosystem before, labelling the fundraising method as “the biggest scam” in 2017. Other critics of Bitcoin are Jamie Dimon of JP Morgan and Warren Buffet of Berkshire Hathaway. The “Oracle of Omaha: once described BTC as “probably rat poison squared.”