“Wolf of Wall Street” criticized high-risk cryptocurrencies

“Wolf of Wall Street” criticized high-risk cryptocurrencies

Former American broker Jordan Belfort, known as the “Wolf of Wall Street”, in an interview with The Crypto Mile compared low-cap digital assets with “junk” stocks.< /p>

“I don’t think there is any research you can do to protect yourself against these ultra-low-cap assets, except for a very early entry,” he said.

According to Belfort, this You can make a lot of money in the segment, but most buyers of “junk” stocks will lose their money.

He warned investors against acquiring such assets only if they are not ready to allocate a certain amount from their portfolio to gambling.

The “Wolf of Wall Street” said that he primarily considers Bitcoin and Ethereum as reliable digital assets due to their strong foundation.

“I I think it's only a matter of time before […] bitcoin reaches maturity for it to start trading more as a store of value than as a growth stock,” he explained.

In 2018, Belfort said that retail investors in the first cryptocurrency were brainwashed. A few years later, he changed his mind, like many other investors and financiers.

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Recall that in July 2022, The Wolf of Wall Street called bitcoin a long-term hedge against inflation.

Earlier, he criticized Shiba Inu and Dogecoin meme-cryptocurrencies for lack of values. In his opinion, the creators of these projects use an unregulated market and should go to jail.

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