While financial experts have been debating the stability of bitcoins — a form of digital currency that has taken the market by storm — one famous former Wall Street player has chimed in with an urgent message.
Jordan Belfort, the real-life “Wolf of Wall Street,” warned potential buyers interested in investing in bitcoins that that there was no real value to the currency, calling it a “bubble.”
“I’m certain at the end of the day it will end up close to zero, that’s the bottom line,” Belfort told Fox Business in an interview published Friday.
Bitcoin was created in 2008, and its stock value recently experienced a dramatic spike, as one unit of the cryptocurrency was worth around $1,000 in January 2017, but has seen recent values upwards of $15,000, according to U.S. Consumer Finance.
Bitcoins can be used to buy merchandise anonymously, and because the currency is decentralized, it has no ties to any specific country or financial institution, meaning it’s not subject to regulation. – READ MORE
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