Ironically, The Wolf Of Wall Street Calls For Regulation

Stockbroker Jordan Belfort believes that regulating cryptocurrencies like Bitcoin would be good. His assessment is based on experience.

The nineties were a golden age for Jordan Belfort. At least since the extremely successful film adaptation of his life with Leonardo Di Caprio in the lead role, a broad public has also known the reasons for this. Before his prison sentence, the stockbroker made millions on penny stocks and questionable sales strategies. So risky investments have always been his business.

The ex-prisoner does not stop at modern currencies either. In an interview with Coindesk, he explained that Bitcoin and so-called stablecoins, i.e. cryptocurrencies whose value is tied to conventional currencies, would benefit significantly from more stringent regulation.

His assessment is based on experience with junk bonds, i.e. bonds with poor credit ratings that have only become a significant and large market through regulation.

More regulation means more security

In fact, it is conceivable that regulatory intervention would bring a little more security into the market, which would also allow more anxious investors easier access. Due to the constant abrupt changes in the handling of Bitcoin and Co., for example, the more or less sudden ban on mining in China, the market is moving quite unpredictably.

But even Belfort is currently not enthusiastic about every cryptocurrency. For years he has been railing against the stablecoin Tether, the construction of which he considers a huge fraud. Official investigations are currently underway against the operators.

As for the price of his favourites Bitcoin and Ethereum, his forecasts are comparatively cautious. For Bitcoin, he sees a price between 45,000 and 70,000 US dollars at the end of the year, and Ethereum in his opinion between 3,700 US dollars and 4,500 US dollars at the end of 2021.

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