Original Wolf of Wall Street, Jordan Belfort, says that Bitcoin (BTC) is performing beyond his expectations. On the other hand, he also conveyed his positive comments for the leading altcoin Ethereum (ETH). Here are the details…
Bitcoin not going to zero
In a recent interview with Yahoo Finance on Crypto Mile, stockbroker Jordan Belfort, who inspired the movie The Wolf of Wall Street, says that most are not fans of cryptocurrencies. He said he was wrong about Bitcoin going to zero when he really hated cryptocurrencies. Belfort used the following statements:
Back when I really hated cryptocurrencies, I stand by everything I said about crypto in 2017. Except for one thing. I was wrong about Bitcoin going to zero.
According to Belfort, there was no good reason for cryptocurrencies to exist
In 2018, Belfort said there was no “good reason” for cryptocurrencies to exist outside of a monetization plan. Today, the penny stock trader believes Bitcoin is a solid long-term game. Belfort used the following statements:
I think the problem right now is that you look at Bitcoin. Failure to obtain an opinion over a 12-month or 24-month term. With reasonable luck, I think you’ll almost certainly make money if you get a 24-month view. Maybe not. But I think I’d be shocked if you get a three, four, five-year view. It didn’t make any money because I believe the fundamentals are really strong. There is a limited supply and as inflation goes on and on, there will be enough maturity that at some point in time it starts trading with Bitcoin more like a store value and less like a growth stock.
“Wall Street Founder” praises leading altcoin project
Belfort says his second choice for long-term investment alongside Bitcoin is the leading smart contract platform Ethereum (ETH). At the time of writing, Bitcoin is trading at $21,237, while Ethereum is changing hands at $1,370. Meanwhile, the favorable market situation Ethereum is experiencing follows the reports of the Merge update. As part of the team’s efforts to test the much anticipated launch of The Merge, Ethereum’s Shadow Fork 9 went live on July 14.
The ninth shadow fork evaluated the feasibility of updates and releases brought by the Sepolia hard fork testnet, which successfully migrated to Proof-of-Stake on July 6. The shadow fork allowed these updates to be tested on a “more dense network. As stated in the roadmap, the Ethereum development team is asking the crypto community to wait for full Unification by September of this year. However, a change in this date is unlikely due to internal problems and unforeseen circumstances. The Goerli testnet is expected to host the final testing phase. It is scheduled for 11 August.
