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Former stockbroker Jordan Belfort believes that investing in Bitcoin for the long term can protect investors' funds from inflation.
Previously, Jordan Belfort wasconvicted of fraud related to the securities market. His memoirs inspired director Martin Scorsese to create the famous film The Wolf of Wall Street. In a recent interview, Belfort recommended that investors buy Bitcoin not for short-term market manipulation, but for long-term storage. According to him, there will come a time when BTC will be traded as a store of value rather than as an investment vehicle with a growth outlook. This is due to the fact that the supply of the first cryptocurrency is limited to 21 million digital coins, and inflation in the world continues to rise.
“If you look beyond the 24-month horizon,You can definitely make money if you're lucky. If you take a three- or five-year period, I would be shocked if you don't make money because the fundamentals of Bitcoin are unshakable,” Belfort said.
An American trading expert identified twotypes of investments in the cryptocurrency space: investing in protocols with long-term fundamentals and investing small amounts in cryptocurrency projects with ultra-low market capitalization. The former Wall Street stockbroker believes the latter can bring huge returns to venture investors. It is better to enter into such projects before they are publicly traded on stock exchanges, and it is better for investors to invest funds at the very start or in the midst of the first investment round, Belfort is sure. It is true that in most of these cases, investors can lose money, so they should be prepared to lose.
Belfort believes that Bitcoin is now behavingas a technology stock, correlating with the Nasdaq index. However, investments by institutional investors in the first cryptocurrency cannot yet be called large-scale, since Bitcoin is still in its infancy. For a large influx of institutional money into the cryptocurrency sector, well-developed regulation of crypto assets is necessary. It will reduce the use of digital currencies for illegal purposes and reduce the number of fraudulent cases.
MicroStrategy CEO MichaelMichael Saylor also supports long-term investment in Bitcoin. He is convinced that they will bring much greater returns than buying shares of technology companies in the early stages of their development.
