- Jordan Belfort says, “BTC holds value long-term”.
- Belfort hopes crypto’s potential will open up once crypto regulations are introduced.
- “ETH too has strong underlying fundamentals,” says the former stockbroker.
Amid the crypto clash and all the mayhem around FTX, the inspiration behind the movie Wolf of Wall Street Jordan Belfort shared his tips on crypto investments.
In a recent YouTube video, Belfort claimed that Bitcoin (BTC) has a long-term presence in the crypto market. As a result, BTC holds value long-term and can reap returns after at least three to four years. Belfort says that the underlying fundamentals make Bitcoin more attractive in the long run.
Note that, even though he was quite apprehensive about BTC initially, he is convinced that Bitcoin will continue to rise.
Moreover, while crypto enthusiasts think of regulations as an obstruction in unleashing the power of financial decentralization, Belfort is rather optimistic. In fact, he hopes that crypto’s potential will open up once crypto regulations are introduced. He also noted that when it comes to BTC, a rally is prompted due to limited supply and the rising adoption curve.
Just like BTC, Ethereum (ETH) too has strong underlying fundamentals and hence forms a great alternative for crypto investment, as per Belfort.
Pointing out the similarity of both the cryptos, he said:
So you have Ethereum there, which has gotten slaughtered as well, but if you’re long Ethereum, you know, and again nothing is a guarantee, the chances are that over the next three to five years that it’s going to come roaring back in the next bull cycle.
Lastly, Belfort suggested avoiding ‘panic-selling’ at times of market slowdown. Elaborating on this advice, he said that the current correction implies the selling of weak assets. Belfort explained that one can get money in such conditions, but investors must be patient and observant enough to look at the right moment and get involved again.
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