News JVTech “I wouldn’t touch crypto right now, even with a 3-meter pole” The Wolf of Wall Street gives his opinion
While the cryptocurrency sector is going through a difficult period, the successful ex-trader Jordan Belfort gave a clear opinion on the situation. For him, the context is not very encouraging and strongly advises against investing in virtual assets for the moment.
The Real Wolf of Wall Street Gives His Thoughts on FTX’s Collapse
The recent collapse of the FTX cryptocurrency buying and selling platform is prompting reactions from multiple personalities.
Jordan Belfort, the former American stockbroker whose story was adapted and played by Leonardo DiCaprio in the film “The Wolf of Wall Street” directed by Martin Scorsese in 2013, spoke on the subject of cryptocurrencies. ex-trader who was convicted of large-scale financial fraud in 2003, the conclusion is clear: “FTX was a scam”.
As a reminder, Belfort became famous for running a brokerage firm, Stratton Oakmont, which was accused of massive stock fraud and market manipulation. He was sentenced to several years in prison and had to reimburse more than 100 million dollars to his victims. Thus, the businessman knows his subject well…
Converted into a youtuber under the pseudonym The Wolf of Wall Street, Jordan Belfort has been repeatedly asked by his subscribers to give his opinion on the case.
“…so here’s my number one opinion: FTX was a scam, and there was no way to protect against a scam of this magnitude…” he explained in a recent video.
A mixed position on cryptos and NFTs
In this same video titled “My current crypto update! ”, the trading star, however, issued a more in-depth opinion on the situation of Bitcoin and other cryptocurrencies today.
“…but just because FTX itself was a scam, that doesn’t mean you have to completely despise Bitcoin and say it will go to zero and the same for Ethereum. What I mean is, outside of those two cryptocurrencies, I literally wouldn’t want to touch crypto right now, even with a 10-foot pole. »
Thus, Jordan Belfort continues to believe in the value of the first two cryptocurrencies in the market ranking. The former trader notably compares these two cryptocurrencies to giants like Amazon after the internet bubble of the 2000s.
In this logic, he indicated that he continued to buy, and this, despite the fall in prices to hope to derive a nice capital gain in “5 to 10 years”. However, according to him, other cryptocurrencies are not necessarily worth it.
In addition, The Wolf of Wall Street took the opportunity to touch on NFTs, these famous property tokens having experienced a depreciation in value due to the fall of cryptos. For him, the market has potential, but on the aspect of “virtual property” above all. He laments the frenetic turn the NFT market has taken by offering works that are too expensive for what they really were:
“The stuff that came out made no sense, it was a joke. So I would stay away from it until we get some clarity on what NFTs really are,” closes Jordan Belfort.
