Jordan Belfort, aka The wolf of Wall Street after his book of the same name was made into a movie, he revealed which cryptocurrencies are good long-term investments. Although he was asked about three currencies, the former stockbroker managed to point to only two, Bitcoin Y ethereum.
In conversation with Yahoo FinanceBelfort also states that he would be surprised if an investor does not make money with Bitcoin within three to five years due to the fundamentals of BTC.
Therefore, Belfort again points out that he was wrong when he said bitcoin would go to zeroprobably changing his mind after studying the largest cryptocurrency on the market.
Bitcoin fundamentals are strong
Though Bitcoin still suffers from high volatility in the short termalmost all of its investors believe that BTC has only one destiny: to break new highs with each new bull cycle.
For Jordan Belfort, a former stockbroker who rose to fame after being portrayed by Leonardo DiCaprio in The Wolf of Wall Street, the motives are pretty clear.
“I think the problem is that you have to look at Bitcoin and forget about the 12- to 24-month horizon. With any luck, in 24 months you’ll almost certainly make money, maybe not, but if you take a 3, 4, or 5 year time frame, I’d be surprised if you don’t make money”, says Jordan Belfort.
Justifying his statement, Belfort points out that the fundamentals behind bitcoin are very solidlike its limited supply of currencies, which manages to go against the inflation of currencies such as the dollar.
“At some point, there will be enough maturity for Bitcoin to start being treated more like a store of value and less like a stock.”.
The Wolf of Wall Street recommends Bitcoin and Ethereum
Finally, when asked which cryptocurrencies are good long-term investments, Belfort cites just two: bitcoin and ethereum.
— If I were a long-term cryptocurrency investor, which coin would you recommend?
– Number two?
– Number Three?
So while the wolf of Wall Street has already recommended XRP in the past, noting that it could hit $10, the former broker seems to have ditched it, taking a more conservative stance on his investments.