JAKARTA – Jordan Belfort, a stockbroker told in the film The Wolf of Wall Street, is currently a writer and speaker. Belfort shares his views on the number one cryptocurrency, Bitcoin.
In an interview with Yahoo Finance, Belfort urges Bitcoin owners not to sell it at a time when the crypto market is faltering. He advises them to keep their digital assets for at least 36 months.
Not without reason, he reasoned that holding a crypto asset for that period of time gives the possibility that the asset's value will increase after experiencing a decline in price.
“If you take a three or maybe five year timeframe, I would be surprised if you don't make any money because the fundamentals underlying Bitcoin are very strong,” Belfort said.
While Belfort had previously agreed with Bill Gates' view that Bitcoin was built on a “stupid theory”, he has now changed direction and given support to Bitcoin investors.
He further stressed that Bitcoin would be a great investment and potentially a hedge against inflationary pressures. Even though the crypto market is currently experiencing a significant decline due to negative sentiment and a massive sell-off of Bitcoin mining companies, Belfort remains optimistic about the future of the digital asset.
In addition, he also warned investors about the high volatility of crypto prices. According to Belfort, Bitcoin is still a very new digital asset. Therefore, cryptocurrencies experience high price fluctuations and are correlated with the stock market and other forms of investment.
Commenting on the decline in the price and selling of Bitcoin in bear market times, Belfort assessed that investors who sold their assets were caused by a lack of caution and research before investing. He emphasized that cryptocurrencies that have worthwhile projects deserve to be investment assets.
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