Known in the industry as the ‘Wall Street Wolf’ Jordan Belfortshared his current views on the cryptocurrency market. According to the veteran trader, the collapse of FTX and the ensuing crypto crisis changed the dynamics in the industry. Here are the expert opinions.
Jordan Belfort explained his views in a YouTube video. The stockbroker, after all the events that happened Bitcoin (BTC) and Ethereum (ETH) He stated that he would not come close to any other entity.
“I wouldn’t even step foot in any cryptocurrency other than BTC and ETH.”
Traditional Investment or Cryptocurrency?
Investors should choose their portfolio carefully, according to specialist exchange Belfort. According to the trader, BTC and ETH should be invested, but this should represent a small portion of the portfolio. According to the stockbroker, the primary choice for investment is not cryptocurrencies.
stockbroker, cryptocurrency He did not neglect to answer the question of which investment instruments should be preferred instead. The best investment vehicles, according to Belfort, are the S&P 500, Vanguard, and other low-cost mutual funds or ETFs. The stockbroker invited those who want to invest heavily in these tools.
What Should Those Who Have Invested In Other Cryptos Do?
Belfort also gave advice for those who buy different coins. The worst time to sell holdings, according to the stockbroker, is panic, which occurs when bottom prices are experienced. Investors should remain calm, according to the trader.
Before making such a sale or continuation decision, it is necessary to examine the assets well and read the basics of the project well. According to the stockbroker, the easiest way to do this is to analyze the preferred reasons and the current status of the project.
Koinfinans.com As we reported, Belfort believes the FTX collapse was a planned move. Describing Sam Bankman-Fried as a sociopath, the stockbroker stated that FTX’s business plan was ‘fill-empty’.
Announcing that the Bitcoin price will go to ‘zero’ in the crypto winter of 2017, Belfort admitted that his statements were wrong. As a matter of fact, he continues to accept other views apart from this one. Belfort recently stated that $300,000 of assets he had stored in his Metamask wallet had been stolen. Belfort stated that he started keeping his assets in cold storage.
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Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.