Jordan Belfort, aka the Wolf of Wall Street, expects bitcoin and ethereum to be “a lot higher” than they are now. Noting that the collapsed crypto exchange FTX is a scam, he stressed that its implosion “doesn’t mean that you can disregard bitcoin completely and say it’s worthless or going to zero.”
The Wolf of Wall Street Calls FTX a Scam
Jordan Belfort, a former stockbroker whose memoir was adapted into a film called “The Wolf of Wall Street,” shared some recommendations about bitcoin and ethereum in a video posted on his Youtube channel Monday. The film was directed by Martin Scorsese and starred Leonardo DiCaprio.
Belfort founded Stratton Oakmont which functioned as a boiler room that marketed penny stocks and defrauded investors with pump-and-dump stock sales. He became a motivational speaker after pleading guilty to fraud in 1999 and went to prison for 22 months.
Regarding FTX, the crypto exchange that imploded and filed for bankruptcy on Nov. 11, the Wolf of Wall Street described: “FTX was a scam and there is no way to protect against a scam like that.” He added:
But just because FTX itself was a scam, that doesn’t mean that you can disregard bitcoin completely and say it’s worthless or going to zero. The same thing goes for ethereum.
Belfort Recommends Holding Bitcoin and Ethereum
Belfort believes that the price of bitcoin and ether will increase substantially despite recent crypto market sell-offs and the FTX fallout. However, he is…
