‘Wolf Of Wall Street’ Advises Investors To Hold Bitcoin
The year 2022 has been a very tough year for Bitcoin and the general crypto market. In the first 11 months of the year, BTC fell by about 65%. When BTC seemed to gain stability at the $20K price mark, the FTX contagion broke out.
The adverse event has brought the leading coin, Bitcoin, down by around 75% from its peak price of $68,789. BTC is currently trading at $16,823.
Despite this, Bitcoin is still more promising than the rest of the altcoins. Therefore, several experts still believe that potential crypto investors can choose BTC now, as it projects a positive future.
As for the Ethereum token, the price change in the last 24 hours is -1.94%, with a trading price just above the $1200 mark. Ethereum is also believed to be profitable in the long run, given its transition to 2.0 and potential to revolutionize the web.
Bitcoin and Ethereum as profitable investment options
Meanwhile, a renowned stockbroker, Jordan Belfort, has expressed his thoughts on the profitability of Bitcoin and Ethereum. In his comment, he stated that both digital tokens are the safest to venture into.
He urges crypto investors to enter the ecosystem with little capital. This is because of the unpredictable risk and volatility of these digital tokens.
He further shared some light on the recent FTX incident. He cited that investors could not identify the fraud to the exchange. But this is not a yardstick to disregard investing in Bitcoin and Ethereum.
The stockbroker also announced that his BTC holdings are still intact, with several purchases already made. His actions are backed by the belief that BTC will make huge returns in a decade or less.
‘Wolf Of Wall Street’ on crypto adoption
Belfort, also known as the “Wolf Of Wall Street”, shared information about his past dealings. At the time, most of its business was related to the fading Great Fools Theory.
This theory suggests high prices due to overpriced securities being sold to so-called bigger fools. Such transactions occur regardless of the value of the securities and continue until the market is devoid of bigger idiots.
The name The Wolf of Wall Street was inspired by the popular 2013 movie – The Wolf of Wall Street. It is a film written by Terence Winter and directed by Martin Scorsese. The story centered on Jordan Belfort from 2007, who showed great passion as a stockbroker in NYC (New York City), USA.
Entering 2021, the stockbroker observed the rapid development of Bitcoin and finally signed up. During the period, Belfort had hoped that the price of BTC would rise to $100K before 2021 was over. His reason was based on the fixed maximum supply of tokens, which has remained at 21 million coins.
Although the expectation was never fulfilled, his hopes are still high, which is evident in how he speaks highly of the coin. According to him, investors should not expect Bitcoin to bring sudden profits. Instead, it’s better to go into the coin with a long-term mindset to get the most out of it.
Featured image from Pixabay, chart from TradingView.com
