Jordan Belfort becomes the latest industry player to remain bullish about BTC and ETH. The former stockbroker and the founder of the (defunct) Stratton Oakmont shared his opinion on the FTX collapse and his expectations of BTC and ETH.
Interestingly, Jordan Belfort's memoir was adapted into a movie titled "The Wolf of Wall Street." You would recall that the former stockbroker founded Stratton Oakmont.
This firm functioned as a "boiler room" that marketed penny stocks. Jordan Belfort allegedly used the penny stocks to defraud investors with pump-and-dump stock sales.
Coincidentally, he was caught and jailed after pleading guilty to the fraud in 1999. He spent 22 months in prison.
Significantly, Jordan Belfort became a motivational speaker and recently shared some recommendations about Bitcoin and Ethereum. He posted the video on his YouTube channel— directed by Martin Scorsese, starring Leonardo DiCaprio.
In the YouTube video, the "Wolf of Wall Street" believes that the price of Bitcoin and ether will surge higher — amidst the crypto winter and FTX debacle. However, he is not confident of other digital assets.
He said he "literally would not be touching crypto right now with a 10-foot pole" asides from the two largest cryptocurrencies.
Furthermore, Jordan Belfort recommends that those who already own other crypto tokens should "go step by step looking at each coin." This procedure or comparison will enable them to decide whether the tokens should be sold and the good time to sell them. He added,
This has to be based on what you bought and the value it is worth right now."
Similarly, the "Wolf of Wall Street" said investors should examine each token's fundamentals. The investors should ask themselves why they bought the tokens. He added some of the questions you should ask yourself as an investor.
They include
Was there something behind your purchase? Were you expecting good news to come out?"
Significantly, one of the highlights of the YouTube video is Jordan Belfort planning to buy Bitcoin and ether. He remains optimistic that the two largest digital assets would surge higher. He said,
If you buy Bitcoin or Ethereum, chances are (they) will be substantially higher in five to 10 years— a lot higher.
One of the highlights of the YouTube video is Jordan's reaction to the FTX exchange collapse. The 'Wolf of wall street' said, "FTX was a scam, and there is no way to protect against a scam like that."
Jordan Belfort becomes one of those industry players that have come out to explain that the whole FTX is a scam.
Furthermore, he explained that the exchange platform could be a scam, but that doesn't extend to the crypto tokens traded. He said,
But just because FTX itself was a scam, doesn't mean you can disregard Bitcoin and Ethereum completely and say it is worthless or going to zero."
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