Bitcoin Won’t go to Zero: Wolf of the Wall Street Revises his Statement

The Wolf of Wall Street, Jordan Belfort said during an interview that he was wrong about Bitcoin going to zero.

In 2017, Jordan Belfort predicted that Bitcoin will resemble a fraud and that its value would drop to nothing. Additionally, the former stockbroker made a prediction regarding the future of cryptocurrencies. In recent years, however, this has been slowly changing but remains an adverse effect of decentralization.

He explained why he changed his opinions on Bitcoin saying, "I stand by everything I said about crypto back in 2017, except 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. It just seemed like that because of all the ear markings of that."

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 for 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 start looking closely at it."

" Those ultra-low cap deals, wow you get a hold of one of those things at the right time you can make just massive, massive money. But on the flip side of that you're playing in someone's playground, you know you're not the house, they're the house," Belfort added.