Jordan Belfort, aka the Wolf of Wall Street, says if you take a three, four, or five-year horizon, he would be shocked if you didn’t make money investing in bitcoin because the underlying fundamentals are really strong.
Bitcoin Outlook Shared by The Wolf of Wall Street
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 titled “The Wolf of Wall Street,” starring Leonardo DiCaprio and directed by Martin Scorsese. Belfort created Stratton Oakmont, which was a boiler-room that sold penny stocks to deceive investors. Belfort pleaded guilty in 1999 to fraud and was sentenced to 22 months imprisonment. He is currently a motivational speaker.
In 2017, Belfort had doubts about bitcoin and crypto. Belfort is now a cryptocurrency expert.
While insisting that he stands by what he said about crypto back then, he admitted in the Yahoo Finance interview: “Except for one thing, I was wrong about bitcoin going to zero.” He explained: “I think the issue right now is you have to look at bitcoin and not take a 12-month or 24-month horizon. With reasonable luck, I think if you take a 24-month horizon, you’ll almost certainly make money.” Belfort added:
I think if you take a three, four, five year horizon, I would be shocked if you didn’t make money because the underlying fundamentals, I believe, are really strong.
He noted: “There’s a limited supply and as inflation does keep going and going and going, at some point in time, there’ll be enough maturity with bitcoin where it starts to be treated more like a store of value and less like a growth stock.”
Belfort was also asked his opinion on what long-term recommendations he had for retail investors in crypto. His answer was that Bitcoin (BTC) is number one and Ethereum (ETH) number 2.
As of the writing time, bitcoin was trading at $21,038, up 9.9% in the previous seven days and down 38% over one year.
What do you think about the comments by the Wolf of Wall Street’s Jordan Belfort? Comment below to let us know your thoughts.
Images CreditsShutterstock. Pixabay. Wiki Commons
DisclaimerThis information is provided for educational purposes only. This article is not intended to be a solicitation or offer to sell or buy any product, service, or company. Bitcoin.com doesn’t offer investment, tax or legal advice. This article does not contain any information, products, or advice that can be used to cause or alleged result in any kind of damage.
