The Wall Street Wolf continues his crusade against Bitcoin. Predicts that flagship cryptocurrency is doomed to failure.
Jordan Belfort, who spent 22 months in prison and was ordered to return more than 110 million dollars to the victims of his stock exchange fraud, told CNBC now that the only reason bitcoin did not die was because his followers were brainwashed.
Bitcoin is just a mirage?
“This thing will evaporate like a mirage,” Belfort said. He admits that he regrets only honest investors who have invested in BTC.
The BTC anonymity also gives cause for concern. He describes this in his statement for CNBC:
“It’s not that bitcoin is a scam, but its nature allows for fraud (…) It’s a hidden market, you can not see what’s going on behind the scenes.”
He also questioned the security of bitcoin and the very idea that it could replace central banks.
– Central banks do not want this – he explains – spent a lot of time trying to stop money laundering, why now allow something that is anonymous and facilitates money laundering?
The wolf became a sheep?
The wolf describes himself as a “former cheater”. His criminal activity was shown in the feature film “The Wolf of Wall Street” from 2013.
He ran a brokerage house on the outskirts of Long Island called Stratton Oakmont. He is responsible for the manipulation of investors and “squeezing” them shares of companies, which ultimately turned out to be worthless.
To manipulate the markets – as Belfort points out today – it is enough to generate demand. He did it by employing almost an army of people calling around the country who persuaded customers to buy shares. In the Internet era, this tactic of manipulation became easier in his opinion.
Today, the converted Wolf warns against cryptocurrencies and claims that the fraudsters have accumulated large BTC expenditures.
This is not the first time Belfort has warned against Bitcoin. In September last year, he said that the cryptocurrency was a “scam”, and soon after that the ICO could be “the biggest fraud in history”. In June, after the cryptocurrency market made a significant drop, he argued that there were “fools” on the market.