‘Wolf of Wall Street’ Jordan Belfort Bullish On Bitcoin
Infamous trader Jordan Belfort is the latest big name to complete an about turn and is now bullish on Bitcoin.
The self-proclaimed ‘Wolf of Wall Street’ had always been bearish on Bitcoin and regularly criticized it now predicts a rally up to $100k USD to BTC.
Jordan Belfort Changes His Tune
In the interview, the former Wall Street trader said Bitcoin’s supply and demand was unlike any other investable asset and that’s what is attracting him.
The former penny stock trader said back in 2017 that Bitcoin would ‘go away forever’ now believes Bitcoin’s fixed supply gives it an advantage over stocks.
‘If a stock stays up too long, the company keeps printing shares,’ asserts Belfort who says Bitcoin doesn’t have this problem as new coins cannot be added.
‘Bitcoin is about pure supply and demand,’ asserts Belfort who says unlike stocks its ‘free from the distortion of effectively printing more of your own corporate currency.’
Belfort ‘Wolf of Wall Street’ spent time in jail for corruption and fraud was made famous by the eponymous movie in which Leonardo DiCaprio played him.
However, Belfort has recently reinvented himself as a motivational speaker and consultant and appears to be coming across as one for the people nowadays.
Wolf Of Wall Street Does About Turn On Gamestop
The Wolf of Wall Street, who is banned from acting as a broker now, has also completed his about turn on the Gamestop decentralized short squeeze.
Belfort alluded to the Gamestop short squeeze in the interview in which many believe it to be a pump and dump, but the former stocktrader said he didn’t think the stock would be dumped at all.
This comes just weeks after Belfort warned traders about the type of short squeeze they were playing, saying many would get burned.
But Belfort did also post a spoof video from a clip of Wolf of Wall Street movie and him encouraging traders to not be intimidated by Wall Street.
The video is Belfort giving the speech Leonardo DiCaprio gave in The Wolf of Wall Street movie when he told his staff he would not be walking away from the business.
In the video Belfort encourages his staff, or Gamestop short squeezers in this case, ‘to hold the line. To keep squeezing the fucking testicles of those dastardly short sellers until you get what you want, because you all deserve it.’
It’s a classic spoof clip by Belfort and almost as memorable as the movie clip and shows exactly which side Belfort is on.
Wall Street Is Bullish On Bitcoin
Jordan Belfort is infamously known as the Wolf of Wall Street, and his about turn isn’t a surprise.
His u-turn is at the same time as some of the world’s biggest banks, and the likes of Ray Dalio changing their narratives and turning bullish on Bitcoin.
The question is: How long before someone as famous Leonardo DiCaprio comes out as bullish on Bitcoin?