The Famous Wolf of Wall Street, Jordan Belfort, argues, that Bitcoin’s success exceeded his wildest expectations. It is worth adding that he was a staunch cryptocurrency critic before.
Jordan Belfort changes his mind about BTC
In a new interview with the Flagrant 2 podcast, the former stockbroker stated that while he was right in predicting the 2017 Bitcoin crash, he did not predict that the leading cryptocurrency would ultimately be such a huge success
– When I first saw Bitcoin, I thought the technology was great. It was amazing. When I saw the price was $ 17,000, $ 20,000, I thought, “Run! It will implode “ – He said. – I thought when it was [bańka na BTC] it will break eventually [kryptowaluta] it will disappear and never come back [do mainstreamu]but it didn’t. I was wrong about that. I thought it would just go away, but it didn’t. Why? Because many people believed it – added.
BTC and GameStop
Belfort also looks at the fundamentals of Bitcoin and GameStop. He says the two assets are very different in terms of supply dynamics. He also praises the shortage of BTC and claims that it is the strongest element of the top cryptocurrency.
– The difference between Bitcoin and GameStop is huge. This, by the way, is the mistake people make: If you try to think that one applies to the other, it is not – he explained. – There is a limited amount of Bitcoin that can be created, and there are very complex and understandable models for creating them, which causes scarcity. There is literally no amount of GameStop that theoretically could not be broadcast. It is an endless amount of actions that can be printed, created, so it’s not a limited situation. What Bitcoin was able to do really hit one point. It was simply supply and demand – added.
It is worth adding that recently many former critics of BTC have changed their minds about cryptocurrency. Elon Musk joked for a few more months that BTC is only fiat money, but in a different form. Now we found out that Tesla has bought Bitcoins. We’ll probably see more of this type of volts in the near future.