The ‘wolf of Wall Street’ charged $360,000 for a cryptocurrency workshop after calling bitcoin a “mass hoax”

Jordan Belfort, the former broker who inspired Martin Scorsese to film ‘The Wolf of Wall Street,’ continues to make money from people who believe in his financial wisdom after spending nearly two years in jail. The latest initiative of the famous ex-convict has been to launch a workshop on cryptocurrencies worth $ 40,000.

The “masterclass” at Belfort’s Miami mansion was attended by nine people out of a total of 600 applications, which raised $360,000.

However, this comes three years after Belfort claimed that bitcoin was a “mass hoax.” The problem becomes more serious when it comes to the fact that those attending the event paid for their entrance in bitcoins, as reported by The New York Times.

The “big fool” theory

“I know this better than anyone in the world,” said the former broker, as reported by Insider. “I’m not proud of it, but I am. I lived it, I was the guy on the other side. I know what’s going on.”

For Belfort, the success of Bitcoin is due to the “big fool” theory. According to him, overvalued assets can still be sold if one is able to find a “big sucker.” A trend that only ends when the market runs out of suckers.

Something similar to the scam that led to the wolf of Wall Street going to prison for 22 months, when, in 1999, he pleaded guilty to defrauding more than 1,500 private investors for a total of 200 million dollars.

Belfort now teaches classes on metaverse, crypto and decentralized finance

After assuring that bitcoin was “a sinking ship”, Belfort now considers cryptocurrencies to be the “future of finance”. In fact, the former broker has been “investing heavily” in digital assets.

Had a great time this weekend at my first ever Crypto Mastermind. Can’t wait to do this again soon- are you coming to the next one?

— Jordan Belfort (@wolfofwallst)

This is why Belfort wanted to give an “intimate financial experience” to these nine masterclass attendees, where they discussed the metaverse, cryptocurrencies and decentralized finance, and which he did not hesitate to share with his more than 600,000 Twitter followers.