• Belfort told Fortune in an interview he believes bitcoin holds advantages over stocks such as its limited supply, which could see the cryptocurrency reach the $100,000 level.
  • He also cited the increase in support bitcoin has received from institutional investors compared to its previous bull run in 2017.
  • At that time, Belfort voiced his agreement with JPMorgan CEO Jamie Dimon’s assertion that bitcoin was a fraud.
  • I don’t think it’s a great model, Belfort told The Street in September 2017, adding that cryptocurrencies would require some backing by central governments.
  • “Sooner or later, a central bank or a consortium is going to issue their own cryptocurrency and that’s what will take hold.”
  • Belfort pleaded guilty to stock fraud and money laundering in 1999, subsequently writing a memoir called The Wolf of Wall Street, which was turned into a film in 2013.

See also: Billionaire Investor Howard Marks Warming to Bitcoin