December 8, 2023

The Wolf of Wall Street called Bitcoin a long-term hedge against inflation

"The Wolf of Wall Street" called Bitcoin a long-term hedge against inflation

Former American broker Jordan Belfort, known as the “Wolf of Wall Street,” called for buying Bitcoin ona term of more than one or two years as a long-term insurance against inflation.

According to the expert, with an increase in the investment horizon, the probability of making a profit increases.

“If you take a three- or five-year horizon, I will be very surprised if you do not earn. The fundamentals of bitcoin are really strong.”- he explained.

“He has a limited supply. As inflation continues to rise, there will come a time when bitcoin starts trading more as a store of value than a growth stock.”- the specialist explained.

The current high correlation of the first cryptocurrency withBelfort explained the Nasdaq index by the stage of formation. According to him, this is expressed in the absence of “real institutional ownership”, which can be solved through regulation.

“In the cryptocurrency market, you can raise funds. But there is no disclosure, which is fraught with a bad outcome.”- he explained.

The Wolf of Wall Street advised investors onFirst of all, pay attention to the team and the usefulness of the project. According to him, it is worth avoiding those that are not able to compete with centralized alternatives.

Recall that at the end of 2021, Belfort called Shiba Inu and Dogecoin meme-cryptocurrencies “useless and without value.”

Previously, the former broker admitted to being a “major XRP holder.”

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