Wolf of Wall Street Talked About Bitcoin (BTC)!

Jordan Belfort, the former stockbroker known as the "Wolf of Wall Street", has admitted that his initial prediction that Bitcoin (BTC) would go to zero was wrong.

Who is Jordan Belfort?

Jordan Ross Belfort (born July 9, 1962) is an American entrepreneur, speaker, author, former stockbroker, and financial criminal. In 1999, he pleaded guilty to fraud and related crimes in connection with stock-market manipulation and running a boiler room as part of a penny-stock scam. Belfort spent 22 months in prison as part of an agreement under which he gave testimony against numerous partners and subordinates in his fraud scheme.[4] He published the memoir The Wolf of Wall Street in 2007, which was adapted into a Martin Scorsese film of the same name released in 2013, in which he was played by Leonardo DiCaprio.

Jordan Belfort’s Wealth

Belfort founded Stratton Oakmont as a franchise of Stratton Securities, then later bought out the original founder. Stratton Oakmont functioned as a boiler room that marketed penny stocks and defrauded investors with "pump and dump" stock sales. During his years at Stratton, Belfort led a life of lavish parties and intensive use of recreational drugs. Stratton Oakmont at one point employed over 1,000 stock brokers and was involved in stock issues totaling more than $1 billion, including being behind the initial public offering for footwear company Steve Madden. The firm was targeted by law enforcement officials throughout nearly its entire history, and its notoriety inspired the film Boiler Room (2000), as well as the biopic The Wolf of Wall Street (2013). Belfort served 22 months of a four-year sentence at the Taft Correctional Institution in Taft, California, in exchange for a plea agreement with the Federal Bureau of Investigation for running a pump-and-dump scam that resulted in investor losses of approximately $200 million. Belfort was ordered to repay $110.4 million he defrauded from stock buyers. Jordan Belfort, earned millions in his investment company Stratton Oakmont. He had a big trouble with the law, which followed with four years in prison and a fine of $110 million. His Net Worth is -$100 Million

Jordan Belfort Talked About Bitcoin (BTC)!

Speaking during an interview with Yahoo Finance, Belfort stated that his stance in 2017 stemmed from his belief that the asset was a scam, while suggesting that Bitcoin had the characteristics of a fraudulent project. Belfort explained his thoughts as follows: "I stand by everything I said about the crypto sector in 2017, when I really hated cryptocurrencies, except for one thing, I was wrong about Bitcoin going to zero but I wasn't paying enough attention, I said it was a scam, I thought I saw signs of it." Belfort also stated that following the growth of cryptocurrencies, he believed that a regulatory crackdown would have pushed BTC to zero at the time, possibly because it posed a threat. However, the famous stockbroker said that the 2018 cryptocurrency winter changed his thinking: "When the Bitcoin price crashed and went down to $3,000, it was still a multi-billion dollar market. When things have to crash, you wait for a while and they completely reset, that's what happened with Terra. I was struck by BTC's resilience. My initial view was that the US would ban BTC like China did. So I was very bearish on BTC." Interestingly, the former stockbroker explained that it was Bitcoin's qualities of a digital gold that made him change his mind. Along these lines, Belfort, who advocates for crypto regulation, added that over time, BTC will likely start to trade like a store of value and not like a growth stock.   Source: wikipedia bitcoinsistemi   Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!