The Wolf of Wall Street Opens Up About His Hating of Bitcoin in the Past and His Opinion Today
In an interview, the wolf of wall street, Jordan Belfortsaid that before he was wrong in stating that the Bitcoin would go to zero. She said that since she didn’t look at it closely enough, she marked it as just another scam. However, she began to take a closer look and developed a different view of Bitcoindigital gold.
In addition, Belfort said that investors should not take a horizon of 12 or 24 months in Bitcoin. But they should have a three or five year horizon in the main cryptocurrencies. He said that he would be really surprised if investors couldn’t make money in this time frame. Furthermore, Belfort stated that the underlying fundamentals are very strong. Therefore, it is only a matter of time before Bitcoin becomes more of a store of value and less of a growth stock due to rising inflation.
Belfort comments positively on the future of Bitcoin
Commenting on the correlation of Bitcoin with the Stock MarketBelfort said it makes perfect sense to him. He said it would have been surprising if BTC was already trading as an inflation hedge because he is still young. Institutional ownership is the way forward for the asset, and regulation will pave the way.
The wolf of wall street said there is many scams and frauds in the blockchain and cryptocurrency space. Therefore, regulation is an absolute necessity. Belfort said that people are being slaughtered in the cryptocurrency market due to the lack of regulation. Therefore, the market has to be regulated for the good of the consumers and the cryptocurrencies themselves.
Belfort said investors can get massive profits entering very small cap cryptocurrencies at the right time. However, there is less chance of success in most of these tokens. But the best time to invest in cryptocurrencies Small cap is when the project is offered in a launch pad or series A or seed round. These investments have the potential to bring great returns.
Finally, Belfort states that bitcoin and ethereum they should be the top two investments for long-term retail investors. He says that he can speculate with tokens in private and with friends, but that he does not have enough confidence in tokens other than Bitcoin and Ethereum. This interview with Jordan Belfort it shows that his confidence in Bitcoin has grown despite his earlier criticism of the token.