Jordan Belfort, also known as the “Wolf of Wall Street”, recently posted a video on his YouTube channel about cryptocurrencies. In particular, he talked 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.
FTX Bankruptcy May Not Prevent Bitcoin and Ethereum Growth
Former American broker Jordan Belfort said that the prices of BTC and ETH will significantly exceed the current values. He pointed out that the collapse of FTX will not prevent the emergence of a bullish trend in the markets of the two cryptocurrencies. To this end, he suggested that investors keep their bitcoin and ether holdings.
“Whether you own bitcoin or ether is up to you to decide, but personally I have not sold any and I am buying more,” Wolf of Wall Street said. He added that his statement does not mean that he does not expect the price of the two cryptocurrencies to fall.
Jordan Belfort’s opinion
In fact, Belfort believes that BTC and ETH are “likely to be a bit lower in the near future.” For this reason, he wants to “keep buying them lightly.” However, he believes that BTC and ETH tokens will rise in the long term, in five or ten years.
Jordan Belfort is skeptical about other markets
Belfort does not believe that other cryptocurrencies will manage to survive the recent crises. Indeed, he stated that he would not touch other cryptocurrencies at all for the time being. He explained that it is necessary to independently analyze each token step by step to determine whether to sell it or not. He also recommends taking your time to find the right moment for a possible sale.
Separately, The Wolf of Wall Street stated, “FTX was a scam and there is no way to defend against such a scam.” But, he says, the fact that FTX is a scam should not lead people to believe that bitcoin is worth nothing or that it is doomed to fail.
Belfort did not fail to make recommendations to investors. “If you buy bitcoin or ether, it should be a very small part of your total investment portfolio,” he said.
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The failed cryptocurrency investment in 2017 not only did not dampen my enthusiasm, but only increased my enthusiasm. Therefore, I decided to study and understand the blockchain and its many applications, as well as pass on information regarding this ecosystem with my pen.