In an interview published on Friday in the Financial Times, stockbroker Jordan Belfort warns investors that the bitcoin is "a big scam" and that its value will plummet very soon.
"The promoters [of the bitcoin] are making a big scam of higher level against all," says Belfort.
"Probably, 85% of the people there do not have bad intentions, but the problem is that if 5% or 10% are trying to cheat", then - he explains - we are facing a "catastrophe".
At the end of the 1990s, Belfort handled an illegal scheme of value manipulation, which earned him almost two years in prison. The notoriety achieved by his shoe company Steve Madden LTD inspired the film 'The Wolf of Wall Street' (2013), based on the memories of this old broker with the same name.
The famous financier predicts that the price of bitcoin will continue to rise in the short term, until, finally, the market collapses.
Last Monday Belfort also assured in an interview with CNN that the quick and total fall of the bitcoin must be expected, according to the quoted by The Independent. In addition, the ex-shooter said that few players in the cryptocurrency markets will be able to avoid losing their investments.
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"If one were the most disciplined person in the world and had entered the market and left, there would be a small period to make some money," explains the 'Wall Street wolf'; although he points out that "human nature is not like that", and that "people will enter, earn a little and want to make more money".
In this regard, he recalled the case of the speculative fever of the tulipomanía or crisis of the tulips that in the middle of the XVII century brought about the bankruptcy of the economy of the Netherlands, emphasizing that that financial bubble exploded after they began to sell futures of Tulips
Meanwhile, the bitcoin price reached $ 18,000 earlier this month. On December 10, the Chicago Options Exchange launched the first futures contracts for the bitcoin, which increased up to 25% during its first session.
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