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Bitcoin Is A Long-Term Hedge, Warns Jordan Belfort
Jordan Belfort, the former stockbroker whose story inspired the hit movie The Wolf of Wall Street, has warned against taking a "12-month or 24-month horizon" when investing in bitcoin (BTC-USD).
Ankita K.
9:47 5th Jul, 2022
Bitcoin

The man whose memoir inspired the 2013 Martin Scorsese film advised investors to see bitcoin as a long-term hedge against inflation.

He said that when investing in bitcoin, "with reasonable luck, I think if you take a 24-month horizon you'll almost certainly make money".

"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," he said.

"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."

Currently, bitcoin has fallen below the psychological $20,000 level into values not seen since 2017.

Bitcoin now stands at $19,110, down over 10% in the last seven days.

Ethereum (ETH-USD), the second largest cryptocurrency by market capitalisation, has fallen to $1,050, down 1% in the last 24 hours.

These days, Belfort is a public speaker, author and sales coach and he describes two types of investments for the crypto space, one of which is to bet on protocols with long-term fundamentals.

The other is to put a small amount into ultra-low market cap crypto projects that have the potential to make massive profits if you get in early.

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