Jordan Belfort, a.k.a. “ Wolf of Wall Street,” recently posted a video on his YouTube channel about crypto. In particular, he spoke about the collapse of the FTX exchange as well as the upcoming trend in the Bitcoin and Ethereum markets. The Wolf of Wall Street has been quite optimistic about the future of the two largest cryptocurrencies by market cap.
The bankruptcy of FTX cannot prevent the rise of Bitcoin and Ethereum
Former American broker Jordan Belfort explainedD that the prices of BTC and ETH will significantly exceed their current values. He pointed out that the collapse of FTX will not prevent the emergence of an uptrend in the markets of the two cryptos. To that end, he suggested that investors should do so keep their bitcoin and ether holdings.
“If you own bitcoin or ether you have to make your own decision, but personally I haven’t sold a single one and am buying moresaid the wolf of Wall Street. He added that his statement does not mean that he does not expect the prices of the two cryptos to fall.
In reality, Belfort believes that BTC and ETH “probably slightly lower in the short term“. For this reason he wisheskeep buying them lightly“. Nevertheless, he thinks that BTC and ETH tokens will rise in the long term, in five or ten years.
Jordan Belfort is skeptical about other markets
Belfort doesn’t think other cryptos will be able to survive the recent meltdowns. In fact, he stated that he wouldn’t touch at all to other cryptocurrencies at the moment. He explained that it is necessary to analyze each token yourself step by step to determine whether to sell it or not. He also recommends taking your time to find the right time for a potential sale.
Furthermore, the wolf of Wall Street said:FTX was a scam and there is no way to protect yourself from such a scam“. But, in his opinion, the fact that FTX a Fraud should not make people believe that bitcoin is worthless or that it will be ruined.
Belfort did not fail to make recommendations to investors. “If you buy bitcoin or ether, it should only be a very small part of your total investment portfolio.‘ he explained.
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Far from dampening my enthusiasm, an unsuccessful cryptocurrency investment in 2017 only heightened my enthusiasm. I therefore decided to study and understand the blockchain and its many uses and use my pen to share information related to this ecosystem.