Bitcoin price: Wolf of Wall Street baffled by price increase of crypto ‘SCAM’ | City & B…

Jordan Belfort, who spent nearly two years in prison for scamming investors, warned that bitcoin is full of “scammers” and “there’s no good reason” as to why it should exist.

The former stockbroker said it is “outrageous” to think that governments will allow bitcoin to continue as an anonymous digital currency.

Speaking on CNBC on Monday, Mr Belfort said: “I was a scammer. I had it down to science, and it’s exactly what’s happening with bitcoin.

“The whole thing is so stupid, these kids have gotten themselves so brainwashed.”

Mr Belfort explained his reasoning and said: “Bitcoin itself is not a scam, I don’t think.

“What’s happening is there are scams around it being perpetuated because by its very nature it’s a dark market – you can’t see what’s going on…