Bitcoin value will ultimately fall to zero: Jordan Belfort

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httpv://www.youtube.com/watch?v=embed/U6pA2ZkMvL8

THE SAME TIME. >> LET'S TALK FACTS. >> JORDAN, THE WAY OF THE WOLF, HE JOINS US NOW. YOU'RE OUT THERE MORNING FOLKS ABOUT THAT COIN ESSENTIALLY AND THERE ARE A LOT OF BIT COIN FANS OUT THERE. THERE'S ALMOST A CULTLIKE FOLLOWING AND TO A DEGREE YOU CAN UNDERSTAND WHY. PEOPLE HAVE LOST CONFIDENCE IN GOVERNMENT AROUND THE WORLD. PEOPLE HAVE LOST FAITH IN CURRENCIES. REMEMBER OUR CRISIS WE PRINTED $5 TRILLION OUT OF THIN AIR AND ONE ELSE CAN CONTROL. WHAT IF IT DOES GO TO 50000 ARE A HUNDRED THOUSAND OR MILLION? WHAT YOU TELL PEOPLE WHO MAY NOT HAVE GOTTEN INTO IT. I DON'T THE PEOPLE ARE GETTING INTO ITç BECAUSE THEY HAVE A DISLIKE FOR FIAT CURRENCIES OR OTHER SCARED THE GOVERNMENT. IT'S JUST NOT WANTING TO MISS OUT ON SOMETHING THAT'S GOING OVER THE BUBBLE.

HAS NOTHING TO DO WITH THE IDEALISTIC AND THINKING ABOUT TERMS, THEY WERE ON THAT TRAIN OF THOUGHT BUT NOT THE PEOPLE DRIVING UP. THAT'S NOT WHAT'S GOING ON RIGHT NOW. >> I CAN TELL YOU MY SON JUST OPENED AN ACCOUNT A COUPLE MONTHS AGO AND ALL HIS FRIENDS BEHIND AND THEY LIKE THE THOUGH. THIS IDEA OF SCARCITY IS COMPLETELY FALSE BECAUSE WHAT HAPPENS WHEN YOU HAVE SOMETHING LIKE CRYPTO CURRENCY, THEY ALL TRADE IN ONE GIANT BASKET. THERE MIGHT BE ONLY 21 MILLION THAT COIN BUT EVERY TIME THEY THERE IS MORE CRYPTO CURRENCY. THERE'S NO LIMIT TO THE AMOUNT OF CRYPTO CURRENCY GETTING BIGGER EVERY SIGELL DAY. THERE'S NO SCARCITY. THERE'S NO VALUE, IT'S A BUBBLE, AND I PROMISE YOU, AND YOU'RE RIGHT IT COULD GO TO 50000 OR HUNDRED THOUSAND BUT I AM CERTAIN THAT THE END OF THE DAY IT WILL END UPç CLOSE TO ZERO. THAT'S THE BOTTOM LINE. >> HAVE GOT ONE FOR YOU, ANOTHER ONE, CAPITAL MANAGEMENT, THE PRESIDENT COMPARED THE COIN TO A HIGHLIGHTER.

ROLL TAPE. >> THE BEST WAY I CAN EXPLAIN IT, I HAVE IN MY HAND THE BIT HIGHLIGHTER. IT IS WORTH MORE THAN A BIT COIN AND OF COURSE IF SOMEBODY PAID $15000 FOR IT, WALL STREET WOULD START TREATING IT. THE FUTURE EXCHANGE WOULD HAVE YOU TREATING IT ALSO AND YOU'LL HAVE COMPANIES COMING OUT, INSTEAD OF CHANGING THEIR NAME TO BLOCK CHAIN IT WOULD BE WHY GREATER FULL THEORY BUT YOU CAN PAINTING THOUGH. >> WHAT ABOUT GOLD WHOç HAS HELD AMAZING VALUE FOR CENTURIES. AGAIN, LISTEN, I'M NOT IN IT, I'VE NEVER BOUGHT IT, MY SON ASKED ME TOO FOUR YEARS AGO, BUT I WILL SAY TO DO MISS IT OUT OF HAND BECAUSE IT'S NOT A CURRENCY THAT'S PRINTED UP BY GOVERNMENT GOVERNMENT BEHIND IT, THAT COULD BE FOLLY ALSO, NO? HERE I THINK WHAT YOU'RE CONFUSING HERE IS BIT COIN VERSUS BLOCK CHAIN TECHNOLOGY.

NUMBER ONE I DON'T THINK THAT COIN EXCELS IS A SCAM. THAT'S NOT THE PROBLEM FOR THE PROBLEM IS THAT BY ITS VERY IT SET UP TO BE MANIPULATED. THERE'S A VIRAL CAMPAIGN GOING AROUND THE WORLD FOR PEOPLE WHO KNOW NOTHING, THEY HAVE NOT BEEN GOING ON RIGHT NOW IN BIT COIN AND THESE CRYPTO CURRENCIES. THEY'RE TAKING THESE WORTHLESS INSTRUMENTSç AND PUFFING UP A STORY THAT'S THE NEXT GREAT THING FOR THIS IS NEVER GOING TO BE A MAINSTREAM CURRENCY. ALSO, ONE DAY THERE WILL BE A CHAIN CURRENCY SPONSORED BY THE GOVERNMENT. YOU THINK THE U.S. GOVERNMENT IS GOING TO ALLOW THERE TO BE SOME FREEDOM OF CURRENCY OUT THERE SOME MASSIVE MONEY-LAUNDERING. >> I DON'T DISAGREE WITH YOU ON THAT I KNOW THERE'S A LOT OF BUBBLES OUT THERE.

ULTIMATELY THERE MIGHT BE ONE, TELL ME REAL QUICK, THAT DANCE SCENE WITH LEONARDO DICAPRIO, COULD YOU REALLY DIDN'T LIKE THAT BACK IN THE DAY?.

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