Jordan Belfort: BTC is approaching its final day

27 Jun, 2018
by Becky Tsoi
News
Jordan Belfort: BTC is approaching its final day

‘Bitcoin’s price struggles in 2018 signal the beginning of the end for the top-ranked cryptocurrency,’ said Jordan Belfort, former stockbroker and the author of "The Wolf of Wall Street", in Facebook video. ‘Blockchain, the technology behind BTC and other cryptos, held immense promise.’

‘Multiple price dips in June 2018 show that BTC is approaching its final days,’ Belfort said. ‘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.’

He advised BTC investors to get out before the inevitable crash and to move attention from BTC to other cryptocurrencies that have real utility and relevant blockchain technology.

According to Ethereum World News, Belfort argued that without the power to own or to license the blockchain technology, BTC held no real utility. Back to 2017, he agreed with Jamie Dimon that BTC was a "fraud", and claimed ICOs as “the biggest scam ever.”

However, the world is taking the opposite view. According to Dutch banking behemoth, ING, a recent survey covering 15,000 respondents across 13 countries shows that 10% Europeans own crypto and a further 16% intend to acquire coins soon. 15% of the respondents were open to being paid in BTC.

Jessica Exton of ING commented that cryptocurrency remained an abstract investment for many, but there might be more appetite for digital currencies than some might suggest.

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Read more about:Bitcoin (BTC)

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