Former American broker Jordan Belfort, better known as the Wolf of Wall Street, told Coindesk in an interview that sweeping regulation would not harm cryptocurrencies.
He said that regulators’ entry into the market confirms its growth.
“The sooner regulation arrives, the better it will be for Bitcoin, stablecoins and everything else,” Belfort said.
He added that rules would increase the appeal of digital assets for institutional investors, and also allow Bitcoin to become a legitimate store of value.
Earlier in 2017, Belfort argued that regulators would destroy cryptocurrencies, as they viewed them as a convenient means for money laundering.
In February 2018, the former broker described Bitcoin as “an ideal instrument for manipulation” and warned of its inevitable decline.
In the spring of 2021, Belfort admitted that he was wrong about digital gold, and predicted its price would rise to $100,000.
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