The head of the now defunct brokerage firm Stratton Oakmont, Jordan Belfort, whose prototype was taken as the basis for the protagonist of the movie “The Wolf of Wall Street”, admitted that he took the wrong position in relation to bitcoin. Fortune reports .
Belfort recalled how he predicted the fall of the first cryptocurrency on a television show in 2017. At that time, the asset was rising to $ 19,000.
“Then I was right, but I also thought that Bitcoin would be gone forever. It was difficult to sell and easy to buy – all signs of manipulation, ”added Belfort.
The former broker was confident that regulators would destroy cryptocurrencies. Digital gold seemed like an ideal vehicle for money laundering, he said, and the authorities should have done away with it.
Belfort pitted Bitcoin against equities. The latter, according to him, cannot grow forever, and the issue of new securities lowers their rate. The former broker stated that the first cryptocurrency is attracting limited emission investors.
“People are spoiled by bitcoin. He has a limited supply. Shares can be issued indefinitely, ”said Belfort.
He added that the first cryptocurrency now has a much larger buyer base than ever before. According to the expert, thanks to the described advantages over shares, bitcoin will reach the $ 100,000 mark.
In February 2018, Belfort announced that digital gold could rise to $ 50,000 before inevitably collapsing . He also called the asset “an ideal tool for manipulation.”
In August 2018, Belfort added that retail cryptocurrency investors have been brainwashed and have a lot to lose in the near future.
Recall that in November 2020, billionaire and founder of Bridgewater Associates Ray Dalio admitted that he could be wrong about Bitcoin .