Jordan Belfort, the famous Wolf of Wall Street, talked about cryptocurrencies in an interview with Fortune. The American entrepreneur and author seems to be bitcoin-minded. Belfort stated that the next ATH for the original cryptocurrency will have five zeros.
This optimism and view is based on the comparison between Bitcoin and Gamestop’s corporate actions. A well-known trader commented on the following:
Clean supply and demand, without prejudice to effectively print more of your corporate currency.
According to Jordan Belfort, What Affects Bitcoin?
According to Belfort, Bitcoin really stands out from the stock is its stable offering. Because if stocks are pumped for too long, the company continues to sell them, but their value decreases. This is something that does not apply to the world of cryptocurrencies, especially bitcoin. BTC has no problems with traditional markets. As for the latter, high prices tend to increase supply, which turns increases into decreases.
It was this steady supply that changed the attitude of the Wall Street wolf. In 2017, when Belford was accused of extorting $ 200 million from investors, bitcoin experienced a bull market and rose to $ 20,000. At the time, Wolf of Wall Street argued that regulators would not allow the industry to grow any further. But as you can see, no one is infallible. In a new interview with the Flagrant 2 podcast, the former stockbroker stated that while he was right in predicting the Bitcoin crash in 2017, he did not predict that the leading cryptocurrency would ultimately be such a great success.
When I first saw Bitcoin, I thought the technology was amazing. It was amazing. When I saw that the price was $ 17,000, $ 20,000, I thought, “Run! It will implode, he said. – I thought when it was [bańka na BTC] it will break down eventually [kryptowaluta] it will disappear and will never return [do mainstreamu]but it did not. I was wrong about that. I thought it would just disappear, but it did not. Why? Because many believed in it
