Belfort said in a recent interview to UK tabloid The Sun that Shiba Inu and Dogecoin are two popular cryptocurrencies but they have no real value or use. He said that the sole purpose of such tokens is to cheat people. Belfort said that there are many stories of people making huge profits by buying Shiba Inu, but more people have been harmed by this token than this. “You hear stories of people making lakhs but with each such person there are 10,000 or 100,000 people who have suffered huge losses. It is not a good investment,” he said.
He said that the creators of Mime Coins are “fraudsters” and should be sent to jail. There is no way for such tokens to be successful. However, Belfort is not against all cryptocurrencies and believes that government regulation for “bluechip” coins such as Bitcoin and Ether would be good. There is a demand from governments to regulate the crypto segment. Unlike in the financial sector, the risk is high for investors due to lack of regulation in this market. When there is a problem with cryptocurrencies, there is no way to solve it. Belfort said that this is the reason why fraudsters are taking advantage of this market.
The price of Shiba Inu was down by more than 5.4 percent at $0.000043 in the past day. According to CoinGecko, the meme token had been bullish for over a week and was up 13.8 percent. Some other experts have also expressed their apprehension about Mim Tokens. The fluctuations in their prices are also high.
<!–
–>
For the latest tech news, smartphone reviews and exclusive offers on popular mobiles, download the Gadgets 360 Android app and follow us on Google News.
Related news
.