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"Wall Street Wolf" warns about Bitcoin: "Get out of it before you lose all your money"



 Jordan Belfort

SÃO PAULO – Jordan Belfort, known in the market as "Wall Street Wolf," has an intimate relationship with alternative investments, as his schemes using stock price manipulation led to his arrest for 22 months after pleading guilty in 1999 of these fraud cases.

However, according to him, this period gave "a light" on an asset that calls attention today, Bitcoin. "[Bitcoin] is based on 'The Biggest Idiot,'" said Belfort in a recent video on YouTube. "I know that better than anyone else in the world, I'm not proud of it, but I know," he said.

He says the rise in price is due only to a belief that buyers will continue to exist " "to whom they can sell the asset at a higher price.

" There is no fundamental value [no bitcoin]it is based on the next investor and the next, "he said. "Exit if you do not want to lose all your money because […] there is a good chance that it will break, and when it really breaks, you will not be able to sell it on the way, there will be no liquidity," explained the ex-investor

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As well as Belfort, Microsoft founder Bill Gates is one of the group's members against Bitcoin. "As an asset class, you're not producing anything and so you should not expect it to come up. It's a neat case of 'The Biggest Idiot,'" he said recently. "Bitcoin and ICOs, I completely believe [que eles são algumas] of the craziest and most speculative things," he concluded at the time.

On Tuesday (3), Bitcoin was virtually stable, at $ 6,600 (see more clicking here), maintaining the recovery scenario at the beginning of the month after closing the first half with accumulated losses of more than 50%.

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