Personally, I am extremely dubious of the benefits of wearing any mineral. However, hematite is not the same stone as bloodstone. Bloodstone is green jasper with bright spots of iron oxide and very pretty. Hematite is pure iron oxide, Fe2O3.
So perhaps bloodstone could be confused with hematite since it does seem to have tiny spots of iron oxide in it? Now if you're talking about magnets and magnet therapy, I used to be totally in disbelief that it could do a thing. Nowadays, I'm open to the possibility that it may be helpful in circulation, and maybe in other things. I just don't know, would be nice though.