Jordan Belfort, the author and former stockbroker known as “The Wolf of Wall Street,” has changed his previous critical stance on bitcoin, predicting the cryptocurrency’s price will go on to hit $100,000.
Belfort told Fortune in an interview he believes bitcoin holds advantages over stocks such as its limited supply, which could see the cryptocurrency reach the $100,000 level.
Belfort, previously a bitcoin critic, now says he believes cryptocurrency holds advantages over stocks.
He also cited the increase in support bitcoin has received from institutional investors compared to its previous bull run in 2017.
Previous Thoughts Of Jordan Belfort About Bitcoin?
The wolf of wall street is familiar with scams. According to Belfort, his experience has given him insight into a modern financial asset: Bitcoin.
Bitcoin is all based on the “Great Fools Theory,” Belfort says in a recent YouTube video. “I know this better than anyone in the world. I’m not proud of that, but I do.”
Belfort says bitcoin’s price surges, only to a belief by buyers that they will continue to be ‘greater fools’ who can sell the asset at a higher price.
“I don’t think it’s a great model,” Belfort told The Street in September 2017, adding that cryptocurrencies would require some backing by central governments.
Sooner or later, a central bank or a consortium is going to issue their own cryptocurrency and that’s what will take hold.”“Jordan Belfort”
Not only Belfort, but almost a huge number of the population was also against bitcoin including stockbrokers, data analysts, and business analysts. Whereas cybersecurity remains a big concern. Hackers around the globe will definitely try to reach you. And unfortunately, we are still unaware of its security levels.
But now, it seems like everyone is going to accept digital currency in near future. Sooner or later, we all have to accept digital currencies.
Since privacy issues are a big concern. And to keep your assets safe and secure without the reach of any scammer or hacker. You’ve to play safe, spend some extra bucks to keep your asset safe. A reputable Cryptocurrency Wallet is highly recommended.
A cryptocurrency wallet is a device, physical medium, program, or service which stores the public and/or private keys for cryptocurrency transactions. In addition to this basic function of storing the keys, a cryptocurrency wallet more often also offers the functionality of encrypting and/or signing information.
What are your thoughts about Digital Currencies? Do you agree with Jordan Belfort?
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