Jordan Belfort Talks About Bitcoin, Tether, Defi, and Crypto Space

Sahaj  |  Jul 29, 2021

Jordan Belfort, the original Wolf of Wall Street recently shared his thoughts on Bitcoin, Defi, and the crypto space. Belfort is the inspiration behind the great movie the Wolf of the Wall Street where he manipulated the stock market and pumped penny stocks to make his fortune. As revealed in the interview, he is not very happy with a lot of what is going in the crypto market.

Jordan Belfort Shares Views on Bitcoin, Defi, Tether, and Crypto Space

In a recently conducted interview, Jordan Belfort shared details on what excites him in the stock market and about which coins does he really cares about.

Discussing Bitcoin, Belfort said that he has always been an admirer of Bitcoin and the idea behind it excites him a lot. 

Though he mentioned the need for regulations in the crypto market as the more and better regulations there in the market, the more it is going to be beneficial for the traders. He said:

“The sooner that massive regulation comes into the market, the better it is for Bitcoin, stablecoin, and everything else. I think people are scared of regulations, they shouldn’t be. If you look back in history … let’s say the junk bond market, everybody said, ‘Oh no, the regulators are coming in! [But ultimately] the market got much bigger, so I think it’s a good thing.”

In addition to this, Jordan claimed that Bitcoin has a great future ahead and addressed the development the crypto industry has gone through with time.

While predicting the price of Bitcoin for the end of this year to be between $45K and $70K, he praised the concept of Defi and mentioned that he believes that decentralized finance is very innovative.

Tether and Other Bad Crypto coins

Showing a concern regarding the growing number of worthless crypto coins in which unaware people invest and end up losing their money. He said:

“There are so many scams, it is really sad … You have all these shitcoins out there. Literally, every single day, there are new ones being printed. They are simply designed to separate people from their money.”

As far as Tether is concerned, Belfort called it a stain on the credibility of the crypto market and said:

“I have been saying that since 2017 that I thought there was a big problem with Tether … It seemed like a pretty convenient thing that Tether supply expanded when it needed to expand. And then when they settled something civilly, I was like Wow, How did they get away with that?”

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