The Wolf of Wall Street’s Misconception about Bitcoin

I remember the first time I watched the movie called “The Wolf Of Wall Street”. I was in my junior year of high school and it is based on a true story about the life of Jordan Belfort (played by Leonardo DiCaprio) who came from nothing and became a huge success becoming a ruthless salesman selling motorized wardrobes on the black market. I was not disappointed. This is one of the most brilliant films I have ever seen and I absolutely enjoyed Belfort’s character.

However, it is an undeniable fact that Jordan Belfort is a financial criminal. I may enjoy his character in the movie but in real life, he is a villain — Only DiCaprio made his character likable.

It has been years since I first entered the crypto market. And I couldn’t be more irritated about Belfort, especially when he made a statement about bitcoin going to zero. Furthermore, he also stated how much he hated crypto.

Just a few days ago, during an interview, he retracted his statement by saying that Bitcoin is a solid long-term play — “I was wrong about Bitcoin going to zero,” he said. And the funny thing is he even instructed crypto investors not to take a 12-month or 24-month horizon on Bitcoin. Instead, one should take a three, four, or five-year horizon. — “I would be shocked if you didn’t make money because the underlying fundamentals, I believe, are really strong,” he added.

Along with Bitcoin, Belfort says that his second choice for long-term investment is the leading smart contract platform Ethereum (ETH).

At the time of writing, Bitcoin is trading for $22,310.48, while Ethereum is changing hands at $1,480.82.

Belfort is still a terrible person. But his advice about crypto and bitcoin is actually correct and relevant — I say that as someone that despises him. But how about you guys? What are your thoughts about Belfort’s misconception about crypto?

Thank you for reading and I appreciate your thoughtful responses! As always, keep it classy and civilized, please!

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