Former Wall Street trader Jordan Belfort is not a fan of Dogecoin and Shiba Inu and this meme has been harshly criticizing the coins. Cryptocoin. com, we have compiled the details for you, let’s examine the subject together…
Jordan Belfort harshly criticizes Dogecoin and Shiba Inu!
Former stock broker Jordan Belfort, whose crazy life story inspired Martin Scorsese’s movie The Wolf Of Wall Street, criticized meme coins in his last interview. The famous American entrepreneur said that the two most popular prank cryptocurrencies, Dogecoin and Shiba Inu, have no real value and utility. He later argued that the sole purpose of “f**tcoins” was to separate people from their money, questioning their ability to make people rich. Jordan Belfort adds the following to his explanations on the subject:
You hear the crazy stories of people making millions and billions, but there are also people who lose. It’s not a good investment.
The Shiba Inu, which rose over 800% in October, fell 29% in November. Still, the meme coin is seeing adoption from many companies, along with movie theater AMC and online electronics retailer.
Jordan Belfort: People should go to jail seriously, they are not legitimate
The convict, who spent 22 months in prison after being charged with securities fraud and money laundering in 1998, added that some cryptocurrencies may be completely illegal and their creators should be locked behind bars:
People should seriously go to jail, they are not legitimate. There is no such thing as they will never work…
Belfort says legitimate projects like Bitcoin and Ether have been hurt by some rotten apples. Earlier in November, the Squid Game coin dropped to almost zero after gaining wide media coverage despite having no affiliation with the hit Netflix series. The incident has become a cautionary tale for cryptocurrency investors.
