Former stockbroker Jordan Belfort believes that investing in Bitcoin, in the long run, can protect investors’ funds from inflation.
Previously, Jordan Belfort was convicted of fraud related to the securities market. His memories inspired director Martin Scorsese to create the famous film The Wolf of Wall Street. In a recent interview, Belfort recommended that investors buy bitcoin, not for short-term market manipulation but for long-term storage.
According to him, there will come a time when BTC will be traded as a store of value and not as an investment vehicle with the prospect of growth. This is because the supply of his first cryptocurrency is limited to 21 million digital coins, and inflation in the world continues to grow.
“If you look beyond the 24-month horizon, you can make money if you are lucky. If you take a three-or five-year period, I will be shocked if you do not make money because the basic principles of Bitcoin are unshakable,” Belfort said
Belfort believes that Bitcoin is now behaving like a technology stock, correlating with the Nasdaq index. However, investment by institutional investors in the first cryptocurrency cannot yet be called large-scale since bitcoin is still in its infancy.
MicroStrategy CEO Michael Slayer also supports long-term investment in Bitcoin. He is convinced that they will bring much more profit than buying shares of technology companies in the early stages of their development.