Jordan Belfort, aka, the “Wolf of Wall Street” believes the end of Bitcoin is at hand. Speaking via Facebook video, Belfort same Bitcoin’s value struggles in 2018 signal the start of the tip for the top-ranked cryptocurrency. He suggested “holders” to urge out currently before the inevitable crash. Despite his negative stance of BTC, Belfort declared that Blockchain, the technology behind BTC and alternative cryptos, command huge promise.
The End is close to for Bitcoin
According to Belfort, the multiple values dip old in Gregorian calendar month 2018 show that BCT is approaching its “final days.” The Wolf of Wall Street went on to mention that a serious crash that may decimate the perceived price of the crypto was at hand. Belfort conjointly thespian upon his past; his securities market manipulation indictment, to indicate why BTC is heading for disaster. in line with him, the perceived price of Bitcoin fell into the class of “the bigger fool theory.” He suspects permabulls like John McAfee of deceiving the cryptocurrency community with false guarantees saying:
”The only reason why they’re doing that is because they’re trying to get more suckers in. To create unrealistic price projections at ridiculous values.”
Bitcoin Technology is Flawed
One prominent sticking point for Belfort is the fact Bitcoin’s technology is flawed. According to him:
Everything is wrong with it [BTC]. There’re too many fundamental flaws with it, and [the] bottom line is, get out if you don’t want to lose all your money.
Despite his negative sentiments toward BTC, Belfort acknowledged that blockchain technology command vast promise. He inspired viewers to maneuver their attention from BTC to blockchain technology, speech that there have been a number of cryptocurrencies that had real utility.
Belfort argued that Bitcoin command no real utility, speech that if BTC owned and accredited blockchain technology, then matters would be entirely totally different. This isn’t the primary time that Belfort has return exhausting against BTC and cryptocurrencies generally. In Sep 2017, he united with Jamie Dimon that BTC was a “fraud.” Belfort took things a step more the subsequent month, occupation ICOs “the biggest scam ever.”
Bitcoin possession is probably going to extend
In a connected development, a recent survey by Dutch banking behemoth, ING, shows that interest in BTC is probably going to extend. in line with the study, a common fraction of Europeans presently own crypto. Also, an additional sixteen p.c shall acquire coins before long. The survey lined fifteen,000 respondents unfolded over thirteen totally different countries.
Such is that the increasing quality of the market that fifteen p.c of these surveyed aforementioned that they were receptive to being paid in BTC.
Do you trust Jordan Belfort’s claim that Bitcoin’s finish is near? allow us to apprehend your views within the comment section below. This datum is unbelievably profound on condition that cryptos area unit notoriously volatile. Commenting on the survey, Jessica Exton of ING said:
Cryptocurrency remains an abstract investment for many, but there may be more appetite for digital currencies than some might suggest.
Based on the results of ING’s latest survey, Belfort’s outburst may well be nothing over FUD. Time can tell whether or not Bitcoin can become the currency of the long run, like Steve Wozniak and Jack Dorsey believe, or whether or not it’ll return to a nasty finish like Warren Buffett, Bill Gates, and every one the opposite crypto critics believe.
Image courtesy of Ethereum World News archives and CoinMarketCap.