- Amid this crypto bloodbath, Jordan Belfort thinks that Bitcoin is going to prove profitable in the upcoming 3 to 5 years.
- Jordan Belfort is the man who was once considered a financial criminal, but now, he is a popular advisor and a sales coach.
- As of this writing, Bitcoin was trading at a market value of $20,083.57, bearish by 1.1% during the previous 24 hours.
Jordan Belfort Offers Crypto Counseling
Jordan Belfort, does this name ring a bell? If you don’t know who he is, I’ll make it easy for you folks. Leonardo Dicaprio in The Wolf Of The Wall Street directed by Martin Scorsese. I guess now you know who.
He was once considered as a financial criminal due to charges of securities fraud and money laundering, and was found guilty in the pump and dump scheme. And served 22 years in prison.
The ‘Wolf Of The Wall Street’ is not very fond of the crowned crypto asset Bitcoin. He stated back in 2018 that Bitcoin relies on The Greater Fool Theory.
For those unaware of this hypothesis, folks, according to this theory, think that there will always be some “Greater Fool” who will pay a greater price for an already overvalued asset because of his needs, and advised investors to get out of this circle before it’s too late.
But Jordan Belfort changed his vantage point, and made a forecast that the crowned currency will reach $100K by the end of 2021, which obviously, didn’t happened.
Jordan Belfort says that making investments in Bitcoin might really prove to be fruitful if the holders are willing to hold the cryptocurrency for the upcoming 3-5 years.
Risks In The Crypto Sector
The Wolf Of The Wall Street also offered advice on how not to get lured into frauds associated with the cryptocurrency frauds. This sector is more risky in contrast to the conventional finance industry.
He said that the investors must stay alert while dealing with the projects they are skeptical about, especially the ones offering a huge profit. Furthermore, he also said that they should stay concerned of the projects where the owners are anon.
Source: https://www.thecoinrepublic.com/2022/07/06/wolf-of-the-wall-street-bullish-on-bitcoin-say-it-will-be-profitable/