August 14, 2022

“Wolf of Wall Street” called bitcoin a long-term investment

Jordan Belfort thinks there will be a time when BTC will be traded as a store of value</p>

"Wolf of Wall Street" called bitcoin a long-term investment

What happened Former stockbroker Jordan Belfortadvised investors to buy bitcoins for long-term storage. In his opinion, the asset will help investors protect their funds from inflation. Belfort added that long-term holders of the first cryptocurrency are more likely to make a profit. In addition, he believes that in the future, BTC will be traded as a store of value, and not as an investment vehicle with the prospect of growth. Belfort explained this by the fact that the issue of the asset is limited, and inflation continues to grow.

Yahoo Finance material

What else did Belfort say? The expert identified two types of investments incrypto industry. One of them is investing in protocols with long-term fundamentals, the second is investing small amounts in projects with ultra-low market capitalization. Belfort noted that the latter could bring huge profits. To do this, it is better for investors to enter such projects before they begin to be publicly traded on exchanges, and invest in initial funding rounds. At the same time, Belfort warns that investing in ultra-low-cap projects investors can lose money, so they should be prepared to lose.

Belfort noted that the crypto sector needsregulation to protect investors from fraud. Compared to traditional finance, there are no clear rules in the digital asset sector, he stressed.

Jordan Belfort is a former stockbroker. He was convicted of fraud related to the securities market. His story inspired filmmaker Martin Scorsese to create The Wolf of Wall Street.

Belfort has previously stated that meme-cryptocurrenciesDogecoin or Shiba Inu are completely worthless. In his opinion, these assets have no value either for the market or for the entire community. Belfort warned users against investing in these coins. He also said that their creators should go to jail, because they take advantage of the fact that the market is not regulated by anyone.

The Wolf of Wall Street called Bitcoin a long-term investment (getblock.net)