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Jordan belfort puhuu bitcoin
that it can ever really be sustainable. There are still many issues involving bitcoin and cryptocurrencies as theyre considered birthing technologies, and it could be a while before those issues are resolved. Those who arent scamming, well, I feel bad, because they are probably going to lose all their money, or most. Belfort, who spoke about the greater fools theory in his video, which he believes is the main issue affecting the market, and will ultimately lead to its end. Billionaire investor Warren Buffett has also been critical of bitcoin. Despite the recent 7,000 barrier break, many analysts believe it will take time before the currency gets close to its 20,000 high point from last December.
While hammering on Bitcoin not being a store of value, Belfort also compared the current dip in Bitcoin prices to the economic crisis of 2008 where investors were unable to find buyers for faulty mortgage-backed securities. I wouldnt write off a squeeze above 7,200. He later wrote a book about his ordeals entitled The Wolf of Wall Street, which was turned into an Oscar-nominated flick starring Leonardo DiCaprio and directed.
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He states that many of these investigations, if one were to dig deep enough, would like reveal traces of both massive fraud and financial manipulation. Belfort went on to say that theres no legitimate reason behind bitcoins existence other than pure speculation. He served 22 months in a California prison after pleading guilty in 1999 to a seven-year scheme at his Long Island brokerage, Stratton Oakmont, which manipulated the price of stocks and left investors holding nearly worthless securities. Bitcoin huddled at the 6,400 mark for several days and remaining largely unaffected by relative financial news, but later spiked to 6,700 and broke the 7,000 line about 48 hours ago. "Get out if you don't want to lose all of your money because. Belfort doesnt support ICOs either, and he refers to them asthe biggest scam ever. Matthew Newton analyst at global investment platform e-Toro says: Clearly these are rosier numbers than weve become used to, but lets not get carried away. Belfort also referred to the Bank of International Settlement report which was released earlier this month, where the BIS remarked that while Bitcoin has its uses, it had too many limitations to be considered a medium of exchange that could replace money.
He states: Central banks dont want. Jordan Belfort, the former stock broker made famous by Leonardo DiCaprio in Martin Scorsese's "Wolf of Wall Street is intimately familiar with scams. Belfort says bitcoin's price surges are thanks only to a belief by buyers that there will continue to be 'greater fools' who they can sell the asset to at a higher price. In the meantime, bitcoins price is giving rise to further speculation.