“The Wolf of Wall Street” author Jordan Belfort has laid out his vision for the world’s largest cyptocurrentcy Bitcoin (BTC).
Who is Jordan Belfort?
Jordan Belfort is now an author and speaker. He originally found fame when the film that narrates his trajectory in the financial market, The Wolf of Wall Street, went blockbuster.
In a Yahoo Finance interview, Belfort shared his ambition for the biggest cryptocurrency in the world. Belfort encourages BTC holders to hang onto their shares for at least 36 months, noting that there is a good probability the asset will increase in value during this time.
“If you take a three or maybe five-year horizon, I would be shocked if you didn’t make money because the underlying fundamentals of Bitcoin are really strong.”
He said
Jordan Belfort said he will be “shocked” if the strategy of investing in Bitcoin (BTC) does not prove profitable in the next three to five years.
Wolf of Wall Street Now Supports Bitcoin
The renowned former stockbroker wasn’t always a supporter of Bitcoin. When Bill Gates said that the asset would be built on the Biggest Fool Theory, he once concurred. He even advised investors to sell their positions in the past so they wouldn’t lose all of their money.
Nevertheless, it appears that the cryptocurrency won Belfort over during its most recent upward cycle. BTC, according to Belfort, would make a fantastic investment and inflation hedge. Even though it didn’t happen, The New Yorker forecast that the cryptocurrency would hit $100,000 in 2021.
Despite this, the Wall Street expert continues to be optimistic about the asset. However, he cautioned investors that significant declines and intervals of severe price volatility might happen in the upcoming years.
In this sense, he emphasized that Bitcoin is still a very new asset. Because of this, it would be common for the cryptocurrency to suffer large price fluctuations and correlate with the stock market and other variable income investments.
Despite encouraging Bitcoin holders not to abandon their positions, Jordan Belfort has indicated some precautions that should be taken in relation to other cryptocurrencies. For him, many investors are “being massacred” due to the lack of care and research that must be done before investing in a project. Belfort comments that only projects that prove to be useful should receive investments.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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