The famous “Wolf of Wall Street,” Jordan Belfort, believes that the value of Bitcoin in the 3 to 5 year time frame will grow by a lot.
Regardless of what the macro trends might be, over a medium to long time frame, according to the great analyst, it is easy to predict that the value of Bitcoin will go up a lot mainly because it is supported by a really solid foundation.
The movie The Wolf of Wall Street starring Di Caprio was inspired by Jordan Belfort, who has since become something of a guru even in the eyes of the masses so he is often asked for investment advice hoping to pump up one’s portfolio with the experience and flair of someone who has practically lived the markets his whole life.
Despite a decidedly bad and complicated macro environment that could significantly affect the markets for a long time (especially the equity market very much linked to Bitcoin and the crypto world), making negative predictions about BTC in the long run is very far-fetched due to a number of factors that for anyone who has a minimum perception of how this world works can only provide reassurance.
“With a 3-5 year horizon, I would be very surprised if you don’t make any gains on Bitcoin, because the fundamentals are really strong. There are no real institutional investors yet, for example, there are no school teacher pension funds using it. to cover ourselves, we are not there yet.”
The reasons that suggest a rosy outlook for Bitcoin‘s future and place it as the winning horse to bet on in the medium and long term are varied.
Jordan Belfort’s predictions for the future of Bitcoin
First and foremost, Satoshi’s creation has a finite number of units, 21 million being the total BTC that can ever exist, and since it is not part of the system to print “currency” as, for example, the Federal Reserve or other central banks can do, once distributed among people the only variable beyond demand is the investor base.
Bitcoin’s protocol is based on the Proof of Work system and, unlike ETH which is going through the process to adopt Proof of Stake, making it much greener and faster in essence, Bitcoin is still ingrained in the world of mining.
There are almost 8 billion of us in the world, and the 21 million BTC, which have almost all been mined, are divided among a number of people. By increasing the demand and therefore presumably also the base of interested people who will buy BTC, this process will also cause the value of the currency to grow over time.
Another point in favor of the currency is the halving, when 210,000 blocks are mined, the reward for validation is halved through Bitcoin halving, the rate of Bitcoin issuance increases and the asset becomes scarcer, fighting inflation.
Historically, it has always been the case that as this event approaches, cyclically every 4 years or so, the value of digital gold has always experienced strong growths.
Last but not least, the grip of the Crypto world on the masses will play a decisive role. While in the early years BTC and other digital currencies were always viewed with suspicion and detachment now, with the passing of the years and also thanks to the popularization work done by enthusiasts every day, despite some mishaps such as the Moon issue or others, people are beginning to understand the potential in practical terms and also as an investment.
Bitcoin does not yet have the real institutional investments, namely stakes with significant sums even for a state’s budget, that would inject confidence in all the enthusiasts of this world. In practice, there is still a long way to go and there is a lot still to be done even in terms of investment and hedging.
The “Belfort line”
The “Belfort line” is very simple, in a time frame of 3-5 years, Bitcoin historically always exceeds its value by a given time and this is in no way conceivable that it will not continue to happen, basically the prediction of the Wolf of Wall Street was not very difficult to imagine and does not shed any new light, but the fact that he himself said it is important to spread peace of mind to investors.
We are often faced with the likes of Kiyosaki or Belfort himself who take advantage of BTC and co. to improve their businesses, but, in this case, given the popularity of the fine analyst there are no hidden ulterior motives.
The “Wolf” likes to win easy and it is reasonable to think that this time, too, he will succeed in hitting the prediction in anticipation of the next bull market that will not only be a healthy touch for Crypto but also for the various ETFs related to this world.
Compared to ten days ago, Bitcoin has recovered a lot of ground and its prices today bode well for the future, at the time of writing it is stationary at $20,000 after a week that saw it reach as high as $22,000.
A major influence until the end of September comes from the Merge event.
The Merge affects ETH (second largest currency by capitalization) by moving it from Proof of Work to Proof of Stake, catalyzing the attention of investors and, if all goes as planned, could pretend to be a flywheel to the whole crypto world and thus also to Bitcoin, acting as an injection of seriousness in the target market.
Source: https://en.cryptonomist.ch/2022/09/14/jordan-belfort-bitcoins-grow/