It is a well-known fact that a lot of “so-called” financial experts are biased towards Bitcoin. Jordan Belfort, a formerly convicted criminal, is no different in this regard. He is convinced Bitcoin is bound to collapse entirely and this is not the first time he has uttered such outlandish claims.

Jordan Belfort is at it Again

Everyone is allowed to have an opinion regarding Bitcoin, but in the case of Jordan Belfort, he is starting to sound like a broken record. In a recent interview, he yet again stated that the world’s leading cryptocurrency is a “major scam” that is simply waiting to collapse.

For someone who has defrauded hundreds of investors over the span of his Wall Street career, that is an interesting comment, to say the least.

Belfort Continues to Spew Anti-Crypto Venom

According to Belfort, market manipulation is one of the biggest threats that Bitcoin poses to the average market investor. While it is true that BTC has faced such issues in the past, Belfort has provided no evidence to back up his claims.

He is also convinced that the ‘anonymity aspect of Bitcoin’ is a massive problem as well. This clearly goes to show how some people refuse to understand the technology powering this cryptocurrency, especially since Bitcoin has no anonymous aspects to it at all. The digital asset is not only transparent but can also be easily traced as and when required by relevant authorities.

However, the Wolf of Wall Street continues to see things differently, calling BTC a facilitator for the “dark market”, a comment that makes zero sense whatsoever.

With that being said, he did bring up one interesting point regarding Bitcoin’s security protocols. Since there is no infrastructure in place to prevent money laundering from occurring at the base-protocol level, Belfort called for service providers to perform thorough KYC checks to ensure that users can be identified when needed.

Final Thoughts

As the general public continues to warm up towards Bitcoin, comments like these continue to show the ignorance of the elite few against the digital asset market. However, it seems unlikely anyone will be dissuaded to invest in BTC because of Belfort or his beliefs.

Featured image courtesy of Shutterstock.com

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