Former stockbroker Jordan Belfort, the subject of the movie Wolf of Wall Street, shared three striking predictions about Bitcoin. It seems that the legendary investor’s attitude towards cryptocurrencies is changing.
3 stunning Bitcoin predictions from Jordan Belfort
Jordan Belfort says that Bitcoin is an ‘opportunity’ at a time when countries have not yet established concrete regulations for cryptocurrencies. Belfort, a long-time advocate of regulation in the crypto industry, predicts that Bitcoin can thrive better in an environment where the law is well defined.
Belfort also opposed regulations that wanted to curb the growth of cryptocurrencies. He emphasized that the main reason for the increase in fraud in the crypto space is the lack of laws. Therefore, it underlines the regulations for the security of cryptocurrencies. He also states that he believes the market will become more reliable.
cryptocoin.comIn this article, we have included the developments of the last months on the regulatory barrier that Belfort mentioned.
‘BTC price remains stable’
Jordan Belfort’s initial attitude towards cryptocurrencies was rather cautious and skeptical. The former stockbroker associated the industry with fraud. Specifically, he predicts that Bitcoin will return to zero due to its fraudulent properties.
But events like Bitcoin’s resurgence after the 2018 crypto winter and the collapse of the Terra (LUNA) ecosystem changed Belfort’s mind. It also increased his belief in Bitcoin’s reliability. Therefore, Belfort now looks more positively towards the future of cryptocurrencies. He argues that regulations are important to the security of cryptocurrencies.
Belfort made the following statements in a long statement in which he shared his experiences:
Back in 2017 when I really hated crypto, I stand by everything I said about crypto in 2017, except for one thing, I was wrong about Bitcoin going to zero, but I didn’t look closely enough because I said it was a scam because it seemed so…
When it crashed and dropped to $3,000, it was still like a multi-billion dollar market.
‘Bitcoin’s future and goals still look promising’
During last year’s crypto winter, Bitcoin’s price suffered one of the hardest drops in its history with major bankruptcies like Terra and FTX. However, Belfort says this crisis should not discourage investors from well-established cryptos like Bitcoin or Ethereum.
Belfort previously advised investors to focus solely on Bitcoin and Ethereum for long-term crypto investments. Now, he considers Bitcoin to be more reliable than other cryptocurrencies. He also states that Ethereum is also an important cryptocurrency.
Belfort said, “Just because FTX itself is a scam doesn’t mean you can completely ignore Bitcoin. It also doesn’t mean you can say it’s worthless or going to zero. The same goes for Ethereum,” he says. It should be noted that despite Belfort’s high expectations, crypto prices will depend on global macroeconomic factors.
