The former stockbroker urged investors to allocate only a small portion of the portfolio to bitcoin and ether, and invest the rest in traditional assets and exchange-traded funds.
Ex-trader, known by the nickname “The Wolf of Wall Street”, Jordan Belfort, who previously predicted the collapse of the FTX exchange, urged investors to stay away from all cryptocurrencies except bitcoin and ether:
“Besides these two coins — Bitcoin and Ethereum — I wouldn’t touch any cryptocurrency right now, even with a ten-foot pole.”
The former stock trader believes that investing in bitcoin or ethereum should be a small fraction of the investment portfolio. According to him, it is better to invest in more reliable assets.
“The best investment is to buy stocks from the S&P 500 or invest in Vanguard investment company. Or in one of the ultra-low-cost mutual exchange-traded funds (ETF),” Belfort is sure.
For investors who have invested in cryptocurrencies other than Bitcoin and Ethereum, The Wolf of Wall Street advises to remain calm, not to panic and not start selling assets at the very bottom.
“When you decide whether or not to sell cryptocurrencies, it is worth remembering why you invested in this particular project, and if it still can help you achieve your goals, continue to keep the assets in the portfolio,” Belfort explains.
The show host Mad Money believes that the cryptocurrency market will collapse in 2023, so the other day he called on investors to sell all the crypto assets they have.
Source: Bits
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