Sumary of Musk creates ‘hype’ with bitcoin ‘pump and dump’ comments: Jordan Belfort:
- Jordan Belfort, the former stockbroker and subject of the 2013 hit ‘Wolf of Wall Street,’ argues Tesla CEO Elon Musk ‘might not be pumping and dumping’ cryptocurrencies, but others ‘pump and dump around the hype’ that he creates.
- Jordan Belfort, the former stockbroker and subject of the 2013 hit “Wolf of Wall Street,” weighed in on Tesla CEO Elon Musk’s Bitcoin comment where he said, “I might pump, but I don’t dump,” arguing that while he may not need to, other people pump and dump around the “hype” the celebrity creates.
- “I like Elon Musk and I think he’s rich enough, he doesn’t have to make an extra few dollars pumping and dumping,” Belfort, who spent 22 months in prison after pleading guilty to charges of securities fraud and money laundering, told “Varney &
- “Belfort made the comment one day after Musk said the “three meaningful assets” he personally owns besides his two companies are Bitcoin, Dogecoin and Ethereum.
- “If the price of bitcoin goes down, I lose money,” Musk said during the discussion hosted on a website for a “Bitcoin-focused initiative” called “The B Word” on Tuesday, along with Twitter CEO Jack Dorsey and Ark Invest CEO Cathie Wood.
- ” He explained later that he believes some of the most unlikely investments end up becoming the most profitable.
- In April of this year, Dogecoin saw a more than 500% price surge due in part to attention from Musk, making Dogecoin a household name – for crypto investors, at least.
- Belfort brought up Dogecoin as an example of where Musk was “probably inadvertently being used” to pump and dump the cryptocurrency.