Nigel Green hit back at Mr Belfort, whose life was portrayed by Leonardo DiCaprio in Martin Scorsese’s 2014 film ‘The Wolf of Wall Street, after he claimed the cryptocurrency would “evaporate”.
US-based former stockbroker Mr Belfort had said of Bitcoin: “I was a scammer. I had it down to science, and it's exactly what's happening with Bitcoin.
“The whole thing is so stupid, these kids have gotten themselves so brainwashed.”
Mr Belfort, who pleaded guilty to manipulating investors in 1999, added: “This thing is going to evaporate like a mirage.
“There’s a lot of really honest people who are going to get slaughtered.”
He claimed cryptocurrency was “a dark market, you can’t see what’s going on behind the scenes.
“People dive into that and use it to rip others off.”
But Mr Green refuted the claims and said digital currency was “the future” and likened Mr Belfort to King Canute.
He had earlier tweeted: “Wolf of Wall Street Jordan Belfort says I’m wrong about Bitcoin.”
He later told Financial Planning Today: “Mr Belfort’s comments are frankly bizarre.
“They are surprising in that he cannot see inherent value, need and demand for digital, global currencies in a digital and global world.
“Does he really believe the future of money is paper notes and metal coins in today’s digital era?
“His declarations are akin to King Canute trying to command the tides of the sea to go back.
“Whether he accepts it or not, the world has fundamentally shifted and evolved in recent years.
“It can’t and won’t go backwards.”
Mr Green’s firm offers an app-based marketplace to buy cryptocurrencies called deVere Crypto.