Jordan Belfort Changes Tune on Bitcoin, Says He Was Wrong to Call it a Scam

Jordan Belfort called crypto a scam in 2018, but now believes Bitcoin has lasting power
Belfort says he was right about most cryptocurrencies being scams, but wrong about Bitcoin and Ethereum
Belfort admits he didn't thoroughly examine Bitcoin's capabilities as a store of value and for payments
Belfort says MicroStrategy's Michael Saylor understands Bitcoin well
Belfort notes crypto and Wall Street have similarities like human involvement leading to bad behavior

benzinga.com

Relevant topic timeline:

9/27/2023

The Wolf of Wall Street Changes His Tune on Crypto and Passive Investing in New Book

Jordan Belfort, the real-life inspiration behind "The Wolf of Wall Street," reflects on the accuracy of the movie, shares his thoughts on cryptocurrency, discusses the rise of retail investors, and introduces his new book on investing.

9/29/2023

Scammers Exploit Lack of Crypto Knowledge in New Bitcoin Cons

Scammers are using cryptocurrency in their cons, with a new Bitcoin scam that claims personal data leakage and offers compensation, targeting consumers who are unfamiliar with cryptocurrency.

10/7/2023

Grantham Warns of 50% Stock Crash, Housing Price Drop, and Multi-Year Recession; Calls Bitcoin a Scam

The possibility of a 50% crash in the S&P 500, a recession next year, and falling house prices are predicted by Jeremy Grantham, who also criticizes bitcoin as a scam and advises against investing in US stocks or real estate.

10/12/2023

Bitcoin Slumps Below $27K as Crypto Faces Uncertainty Amid FTX Fallout

Concerns over the future value of cryptocurrencies persist as the market faces increased scrutiny and volatility, with critics and notable figures expressing apprehension, while billionaire investor Paul Tudor Jones endorses Bitcoin as a stable investment option given rising geopolitical tensions and a weak fiscal position for the US. Additionally, Sam Bankman Fried, the founder of FTX Crypto Exchange and Alameda Research, is currently caught up in a trial for financial fraud, adding further uncertainty to an already unstable market.

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Posted 9/25/2023, 8:11:34 PM