Crypto Bull Mark Yusko Echos ‘Stay in Yo Line’ About Bitcoin to Jordan Belfort’s Hater Nonsense
CIO at Morgan Creek Capital Defends Crypto, Calls Out Jordan Belfort
In a recent post shared by Bitcoin Exchange Guide, an individual dubbed, “Wolf of Wall Street”, or Jordan Belfort was reported as having bashed cryptocurrencies to an all new low. He not only said that those investing in the market are being “brainwashed”, but also called Bitcoin a scam based on his personal experience.
While this might have formed a sense of worry among investors, Chief Investment Officer at Morgan Creek Capital Partners, Mark Yusko defended cryptocurrencies and called out Belfort for his unreasonable argument.
It doesn’t come of surprise as Yusko’s firm currently partnered with Bitwise to launch a Digital Asset Index Fund. He further shared with Yahoo! Finance that one’s investment portfolio should house “digital assets”, adding that we are currently undergoing a similar time to that of the internet, where “Google was just being thought of and no one thought it was very important.”
In addition to calling Bitcoin a scam, Belfort trusts that “Bitcoin is going to evaporate like a mirage. There’s a lot of really honest people who are going to get slaughtered.” This is astonishing coming from a scam artist himself who was prisoned for his “pump-and-dump penny stocks”.
After hearing Belfort’s opinion, Yusko was stumped to see the attention he had gotten, especially given the fact that “he’s a bad guy”. According to the CIO trusting anything from a bad guy like Belfort “is nonsensical. Absolutely nonsensical.”
What are your thoughts on this? Should we, like Yusko believes, disregard Belfort’s opinion on cryptocurrencies because of his past frauds? Or is welcoming both the pros and cons ideal? Let us know in the comments below.