Wolf Of Wall Street Author Shares Crypto Advice
Jordan Belfort, the former stockbroker whose novel The Wolf of Wall Street inspired the 2013 film of the same name, shared his advice for investing in crypto with Yahoo Finance’s The Crypto Mile.
Speaking to Yahoo Finance, Belfort warned against taking a "12-month or 24-month horizon" when investing in Bitcoin, urging people to instead to view Bitcoin as a long-term hedge against inflation, which is currently at a 40-year high in the US.
"With reasonable luck, I think if you take a 24-month horizon you'll almost certainly make money,” Belfort said.
"If you take a three or maybe five-year horizon, I would be shocked if you didn't make money because the underlying fundamentals of Bitcoin are really strong.”
"It has a limited supply, and as inflation keeps rising there will come a time when Bitcoin will start to trade more like a store of value and less like a growth stock."
In recent months, Bitcoin has continued to drop, with Binance’s CEO Changpeng Zhao warning that the world’s largest cryptocurrency could remain below its $69k peak for two years.
Currently, Bitcoin stands at around $19,000, down over 10% in the last seven days.
Disclaimer: This article does not constitute financial advice. All investments are made at the reader’s own risk.