The Wall Street wolf claims that Bitcoin is a scam

Jordan Belfort, the famous Wolf of Wall Street, was interviewed by The Street on cryptocurrencies. According to Belfort, Bitcoin is a scam (ironically!). Thus, this is another person from the financial world that says so. Recently, Jamie Dimon, CEO of JP Morgan, and Ray Dalio, founder and head of the world's largest hedge fund Bridgewater, spoke negatively about BTC, considering it a bubble and a "highly speculative market."

Belfort said:

"The biggest problem I see in Bitcoin and why I would never buy it is that they can easily steal your funds by hacking an account / wallet. I know people who lost money in this way. "

In addition, according to "The Wolf", the bizarre Bitcoin supports a program that creates artificial shortages, which makes the digital currency not sustainable. However, it does not rule out the existence of a sense of the cryptocurrency concept, while arguing that the current model contains too many problems, such as a lack of regulation and government support. It also highlights the chance for central banks to introduce their own cryptocurrencies.

"There will be a time when everyone is crazy about Bitcoin, they will give it up and who knows what will happen?"

In an interview he warned investors with the words:

"Be very careful not to invest big money in something that could disappear very quickly."

Belfort was sentenced by an American court to 22 months in prison and reimbursed over $ 110 million to the victims (although he is responsible for approximately $ 200 million in losses), whom he had defrauded by offering them "worthless" shares.

Interview for The Street