⸺ Obituary · June 29, 2018 ⸺
“Wolf Of Wall Street Jordan Belfort On Bitcoin: Get Out If You Don't Want To Lose All Of Your Money”
— CNBC, Jordan Belfort
““[Bitcoin] is all based on the Great Fools Theory,” Belfort says in a recent YouTube video. “I know this better than anyone in the world. I’m not proud of that, but I do.” Belfort says bitcoin’s price surges are thanks only to a belief by buyers that there will continue to be ‘greater fools’ who they can sell the asset to at a higher price.”
Price at death
$6,204
Today
$73,594
Resurrection
×11.9
On 2018-06-29, Jordan Belfort (Former Stockbroker, Convicted Felon) declared Bitcoin dead via CNBC. Bitcoin was trading at ~$6,204 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on June 29, 2018, when one Bitcoin traded for approximately $6,204. Since then, Bitcoin has appreciated by 11.9× relative to the price on the day CNBC pronounced it finished.