‘Wolf of Wall Street’ J. Belfort Says He was Wrong About Bitcoin

‘Wolf of Wall Street’ J. Belfort Says He was Wrong About Bitcoin

Bitcoin. Jordan Belfort, a former stockbroker who worked on Wall Street and is popularly known as “The Wolf of Wall Street,” has admitted that he was wrong about the impending collapse of the flagship cryptocurrency and its value ultimately going to zero. Belfort made these statements in the film “The Wolf of Wall Street.”

Although he has always been against cryptocurrencies, as of late he has kind of come around to the idea of Bitcoin being more than just a cryptocurrency and a little bit like the financial revolution. He has made a number of predictions in the past about the future of Bitcoin and whether or not it is the right time to invest in the crypto or not.

The Crash of Bitcoin Was Predicted in ‘The Wolf of Wall Street’

In an interview with Yahoo Finance, Jordan stated that in the past he had a strong distaste for cryptocurrencies and that he had never recommended to anyone that they put a significant amount of money into those assets, with the exception of a few isolated instances when the cryptocurrency market was booming and bullish runs were becoming more consistent and obvious than anything else and dominated the cryptocurrency sector.

Because he didn’t have very great aspirations for the project in 2017, he indicated that he was wrong about Bitcoin going to zero and just ceasing to exist. This is because he didn’t have any big hopes for the project in 2017.

He was driven and intent on advancing his career within the stock market and making his fortune there; he cannot blame those who have evidently scored their fortune in the crypto market by investing in Bitcoin or any of the other numerous cryptocurrencies that are currently available because he was similarly motivated and focused on his career within the stock market.

When asked what it was that convinced Jordan that Bitcoin would go to zero, he stated that he believed the entire project to be an elaborate scam and that he didn’t understand or want to pay any attention to the concept of decentralization. Because he works in the stock business, he found the whole thing to be irrelevant, and he didn’t want to have anything to do with it.

It is clear that he has never made any investments in the cryptocurrency market, but he was correct about practically everything else pertaining to cryptocurrencies, with the exception of the prediction that Bitcoin’s overall value will eventually equal zero within the next several years. Bitcoin may be going through a rough patch right now, but the cryptocurrency is not necessarily a hopeless cause.

Orizu Augustine
Orizu Augustine is an experienced crypto writer working for Alltechcraft. Having passion for writing, he covers news articles from blockchain to cryptocurrency and iPhone and Samsung related articles.