After recently admonishing the collapsed ການຊື້ຂາຍ crypto ເວທີ FTX, former stockbroker commonly known as the ‘Wolf ຂອງ Wall Street’ Jordan Belfort has shared his views on the current state of the ຕະຫຼາດ cryptocurrency.
Indeed, Belfort noted that, right now, he wouldn’t go near cryptocurrencies other than Bitcoin (BTC) ແລະ Ethereum (ETH), as he explained in his YouTube video commentary on the recent FTX collapse and subsequent crypto crash, ຈັດພີມມາ ໃນເດືອນທັນວາ 5.
“Outside of those two coins – Bitcoin and Ethereum – I literally would not be touching crypto right now with a 10-foot pole.”
Crypto versus traditional investments
On top of that, he believes that “Bitcoin or Ethereum should represent a very small portion of your overall investment portfolio. In other words, I wouldn’t recommend that’s where you should be ການລົງທຶນ your money.”
Instead, in Belfort’s view:
"ດີທີ່ສຸດ ການລົງທຶນ out there is to buy the S&P 500, go to Vanguard, one of the other really ultra-low-cost ກອງທຶນເຊິ່ງກັນແລະກັນ or ETFs and put the bulkier money in that.”
What to do with other cryptos?
That said, for those who have already bought other coins, Belfort suggested that “the worst time to typically sell is just because everything is down at the bottom, you get panicked out, selling at the worst time possible.”
Therefore, “to decide whether or not you should sell what you currently have, it really depends on going step-by-step, looking at each coin, each token’s fundamentals.”
“When you’re deciding whether or not to sell something that you already own you have to go back to the time that you bought it and say ‘what were my reasons, why did I make this purchase?’ and based on those reasons, you say ‘well, is that reason still intact does it still make sense?’
Belfort’s views on digital assets
As a reminder, Belfort has recently ສະແດງອອກ his belief that the FTX’s collapse was likely premeditated, labelling its former CEO Sam Bankman-Fried as a sociopath and warning that the platform’s business model might have been a pump ແລະ dump ໂຄງການ.
Back in August, the former stockbroker backtracked on his anti-crypto views from 2017, admitting his initial projections of Bitcoin going down to zero were wrong, although he still stands by everything else he said back then, as ນ້ ຳ ມັນ Finbold ລາຍງານ.
ຫວ່າງມໍ່ໆມານີ້, ລາວ ຍອມຮັບ to falling victim to a crypto hacking incident once, losing about $300,000 worth of digital currencies stored in his Metamask ກະເປົາເງິນ crypto, leading him to store his assets in cold storage going forward.
It is also worth noting that, with the continued crypto market volatility, Belfort has offered some ແຜນຍຸດທະສາດ for investors to survive the unfavourable conditions, including setting a time frame for Bitcoin investments, avoiding panic-selling, and focusing on BTC and ETH alone.
ເບິ່ງວີດີໂອທັງໝົດຂ້າງລຸ່ມນີ້:
ປະຕິເສດ: ເນື້ອຫາຢູ່ໃນເວັບໄຊທ໌ນີ້ບໍ່ຄວນຖືວ່າເປັນຄໍາແນະນໍາດ້ານການລົງທຶນ. ການລົງທຶນແມ່ນຄາດຄະເນ. ເມື່ອລົງທຶນ, ທຶນຂອງເຈົ້າມີຄວາມສ່ຽງ.
Source: https://finbold.com/wolf-of-wall-street-j-belfort-warns-investors-not-to-touch-crypto-with-a-10-foot-pole/