Wolf of Wall Street Predicts Bitcoin to Hit $50,000 And Collapse

February 4, 2018

A former stockbroker Jordan Belfort, better-known as the real Wolf from Wall Street told in his interview with a businessman Patrick Bet-David about the possible future of bitcoin.

Belfort said that he does not consider Bitcoin itself a fraud, but he do think it is a "perfect storm for manipulation." He thinks that the growth of the price of BTC happened due to excessive speculation. 

Belfort said:

"Something [BTC] was designed to be used as a currency, and it’s being used as an investment vehicle [...] As a currency, Bitcoin is no more useful at $20,000 or $100."

He also dubbed bitcoin a "wolf in sheep's clothing" and added that before the collapse of BTC its rate may reach $50,000. Belfort also said that he had not invested "a single penny" in any of the cryptocurrencies. 

In September 2017, Belfort also commented on cryptocurrency, saying that bitcoin is easy to be stolen by hackers and that what makes it problematic. One month later he said that ICOs are the biggest scams ever and stated that it is "far worse than anything I was ever doing".

 

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