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Shiba Inu And Dogecoin Are Jokes Says Wolf Of Wall Street Trader

The infamous trader, portrayed by Leonardo DiCaprio in the 2013 film  wolf of wall street

said that cryptocurrencies like Shiba Inu and Dogecoin have “no value and no use.”

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Belfort stated that he was a supporter of blockchain technology, which makes cryptocurrencies such as Bitcoin nearly impossible to hack.

However, he cautioned investors against investing big quantities of money in so-called “meme coins” – digital currencies that began as a joke but have since grown in popularity.

He also warned that some of the newer meme currencies, or “s**t coins,” are clear hoaxes, asking investors not to part with their money and calling for crypto criminals to be prosecuted.

“I’m a supporter of blockchain,” he told The Sun Online, “but there’s a lot of bullshit out there, a lot of s**t currencies that serve no function other than to separate people from their money.”

“You hear crazy stories of people making millions and billions but for every person like that there are 10,000 or a 100,000 people getting their a** handed to them in Shiba Inu.

“It’s not a proper investment.”

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He added: “People are taking advantage of an unregulated market and creating s**t coins which have no value and have no use.”

Because cryptocurrency is not regulated in the same manner that traditional financial institutions are, investors have no recourse if things go wrong.

Belfort, who was imprisoned in the 1990s for stock market manipulation, has warned that some of those behind meme coins may face prison time.

He slammed currencies like MILF Coin and Yummy Coin, stating that “unscrupulous people start the coins then get into a chat room and say something that’s plainly illegal.”

“People should go to jail seriously – they are not legitimate. There is no way they are ever going to work”, Belfort said.