Jordan Belfort, AKA the “Wolf of Wall Street” has just joined the Jamie Dimon in calling Bitcoin a “fraud.”
“The biggest problem I see from Bitcoin, and why I would never buy it, is because they can easily steal it from you through hacking. I know people who lost all their money like that.”
MAKE SURE TO FOLLOW US ON TWITTER: @BLCKCHAINDAILY
Belfort also mentioned that he supposes there is a opportunity for digital currencies, but reasons it’s imperative to have “some sort of backing” by governments.
“There will be a time when everybody is freaking out about Bitcoin and dumps it and who knows what’s going to happen?”
Belfort delivered a closing caution to financiers and said, “Be very careful not to invest a lot of money into something that could vanish very quickly.”
Belfort made millions in the 1990s through his investment company, Stratton Oakmont.
In 1999, Belfort pleaded guilty to securities fraud and money laundering.
In 2003, Belfort was sentenced to four years in prison and personally fined $110 million. He served 22 months in jail.
His memoir is the basis for the 2013 Martin Scorsese film ‘The Wolf of Wall Street,’ starring Leonardo DiCaprio.