‘Wolf of Wall Street’ Jordan Belfort Says He’d Be Shocked If You Didn’t Make Money Investing in Bitcoin Long Term Cryptocurrency
Jordan Belfort aka the Wolf of Wall Street says that if you take a three, four or five year horizon, he would be shocked if you weren’t making money investing in bitcoin because the underlying fundamentals are really solid.
The Wolf of Wall Street Shares Bitcoin Outlook
Jordan Belfort, aka the Wolf of Wall Street, recently shared his outlook for bitcoin on Yahoo Finance’s The Crypto Mile show.
Belfort is a former stockbroker whose memoir was adapted into a film called “The Wolf of Wall Street”, starring Leonardo DiCaprio and directed by Martin Scorsese. Belfort founded Stratton Oakmont, which functioned as a boiler room that traded penny stocks and defrauded investors with pump-and-dump stock sales. He pleaded guilty to fraud in 1999 and was jailed for 22 months; he is now a motivational speaker.
Belfort was skeptical about crypto and bitcoin in 2017. He now calls himself a cryptocurrency guru.
While insisting that he stands by what he said about crypto at the time, he admitted in the Yahoo Finance interview: “Except for one thing, I had wrong about bitcoin going to zero.” He explained, “I think the problem right now is that you have to look at bitcoin and not take a 12 or 24 month horizon. Hopefully, I think if you take a 24 month horizon, you will almost certainly make money. Bellfort added:
I think if you take a three, four or five year horizon, I would be shocked if you weren’t making money because the underlying fundamentals, I believe, are really strong.
He noted, “Supply is limited and as inflation continues and continues, at some point there will be enough maturity with bitcoin where it starts to be treated more as a store of value and less as growth. . Stock.”
Belfort was also asked what he would recommend to a long-term crypto investor. He said number one would be Bitcoin (BTC) and number two would be Ethereum (ETH).
At the time of this writing, bitcoin is trading at $21,038, up 9% in the past seven days but down 38% over a year.
What do you think of the words of Jordan Belfort of the Wolf of Wall Street? Let us know in the comments section below.
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