• Jordan Belfort criticizes Tether
• Bullish for Bitcoin and Etherum
• Stronger regulation required
Former stock broker Jordan Belfort, whose life of parties, drugs and luxury was filmed with Leonardo DiCaprio in the lead role (“The Wolf of Wall Street”), has again described Tether as a fraud in an interview with “Coindesk”. The stablecoin, which was recently targeted by the US financial authorities, has been suspected for years that it is not fully covered by reserves as promised. Belfort, for example, has been warning of problems at Tether since 2017.
Regulation of cryptocurrencies
In this context, the notorious stock market expert has spoken out in favor of massive regulation of crypto currencies. He considers the fear of such interventions, which had repeatedly weighed on the prices of crypto money, to be unfounded.
“I’m a long-term crypto bull and I think the sooner the market is massively regulated, the better for Bitcoin, stablecoins and everyone else. In my opinion, people are afraid of regulation, but they shouldn’t. If you’re in the Looking back on history, it turns out that every young market got much bigger after the regulators stepped in, “Belfort explained during the interview.
So the ex-stockbroker believes that Bitcoin and stablecoins should benefit from stronger regulations. So it was ultimately also with junk bonds, whose market has grown strongly thanks to its regulation.
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Unrealistic price targets for Bitcoin, Ethereum & Co.
That Belfort is not an opponent of crypto currencies is already clear from the fact that, as he says, he owns Bitcoin and Ethereum himself. Although he also expects a strong development for these two, he considers the sometimes extremely bullish price targets of some analysts to be unrealistic. Belfort, for example, who, after serving a 22-month prison sentence for securities fraud and money laundering, earns his living as a sales trainer and motivational speaker, sees Bitcoin at $ 45,000 to $ 70,000 and Ethereum at $ 3,700 to $ 4,500 at the end of the year.
Finanzen.ch editorial team