On August 27, Jordan Belfort, the man that inspired the award-winning movie The Wolf of Street, said during an interview with Yahoo Finance that he was wrong when he claimed that the price of Bitcoin would reach Zero.
As Belfort put it, when he made that claim in 2017, he “hated cryptocurrencies” because the market was surrounded by scams. This has been slowly changing over the years but remains an adverse effect of decentralization.
“At the time that I really hated crypto, I stand by everything I said about crypto in 2017 except for one thing, I was wrong about Bitcoin going to zero, but I didn’t look closely enough because I just said it’s a scam because it just seemed like that because in all the ear markings of that,”
Bitcoin Has Proven It’s Not A Scam
A self-declared NFT Twitter enthusiast, Belfort noted that he changed his mind about Bitcoin “when it crashed and went down to three thousand dollars.” During the 2018 crash, the bitcoin price did not go to 0, as the billionaire expected, i.e., it did not crash all at once as Terra (LUNA) did, so he started to take a closer look at the project.
“What turned me, was slowly but surely, number one when it crashed and it went down to three thousand dollars, like it was still like a multi-billion dollar market, I’m like wait a second, when things crash they go like luna terra and UST that’s what happens, they’re supposed to go the way of UST, that was the first thing that made me…
