The memoirs of former stockbroker Jordan Belfort were made into a movie starring Leonardo DiCaprio, who warned about investing in meme cryptocurrencies such as Dogecoin (DOGE) and Shiba Inu (SHIB). Belfort explained that “people are taking advantage of unregulated markets” and emphasized that “the sooner the government intervenes, the better the cryptocurrency.”

The Wolf of Wall Street’s suggestions for Dogecoin and Shiba Inu cryptocurrencies

Jordan Belfort, also known as The Wolf of Wall Street, warned investors not to invest money in memetic cryptocurrencies such as Dogecoin (DOGE) and Shiba Inu (SHIB) in an interview published on Tuesday in The Sun.

“I am a fan of blockchain, but there is a lot of nonsense there, a lot of meaningless shit coins, just to separate people from their money,” he thinks.

Belfort was a stockbroker, and his memoir was adapted into a movie called “The Wolf of Wall Street” starring Leonardo DiCaprio and directed by Martin Scorsese. Belfort founded Stratton Oakmont, the company acting as a boiler house, selling low-priced stocks and defrauding investors by “selling” stock sales. In 1999, he pleaded guilty to fraud and was imprisoned for 22 months; he is now an inspirational speaker.

“I have become greedy. … greedy is not good,” he said in an inspirational speech in Dubai in 2014.

The author of The Wolf of Wall Street told The Sun:

You will hear crazy stories about people making millions and billions, but for every such person, 10,000 or 100,000 people get their ** at Shiba Inu… This is not a proper investment.

Belfort added: “People are using unregulated markets to create rubbish coins that are worthless and useless.”

In the past few months, Dogecoin and Shiba Inu have been very popular. At the time of writing, DOGE is the 10th largest cryptocurrency by market capitalization, and SHIB is the 13th largest cryptocurrency. The price of Dogecoin is $0.210057. It has risen by more than 6,154% in the past year. The price of Shiba inu is 0.00004284 USD. Memecoin has risen by 66,650,613.9% in the past year.

Belfort then lashed out at cryptocurrency investment programs such as MILF coin and yummy coin, stating that “unscrupulous people started using cryptocurrency and entered chat rooms and said clearly illegal things.”

He emphasized: “People should go to jail seriously-they are illegal. They will never be able to work… My guess is that someone will eventually be prosecuted for these things.”

Emphasizing, “What I hate most about it is the legal stuff-it gives those digital coins a bad reputation,” he thought:

The sooner the government intervenes, the better it is for cryptocurrencies, because when the authorities begin to regulate the dark market, it will become bigger and bigger.

What do you think of the advice of the Wolf of Wall Street? Please let us know in the comments section below.

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