‘Wolf of Wall Street’ Jordan Belfort Expects Bitcoin and Ethereum to Be ‘Substantially Higher’ Despite FTX Collapse

December 9, 2022 Bitcoin.com

Wolf of Wall Street Jordan Belfort Says Sam Bankman-Fried Used FTX As ‘Personal Piggy Bank’

November 21, 2022 The Daily Hodl

Here’s How Low-Cap Altcoins Are Like Penny Stocks, According to The Wolf Of Wall Street

August 30, 2022 The Daily Hodl

Low cap crypto is like penny stocks, says Wolf of Wall Street

August 29, 2022 Coin Telegraph

Bitcoin

“I don’t think there’s any amount of research that you can do to protect yourself from these ultra low cap [assets], except getting in really, really early,” said Jordan Belfort.

Former stockbroker Jordan Belfort, known colloquially as the “Wolf of Wall Street” has likened low market cap crypto assets to penny stocks due to their extreme price volatility.

Penny stocks refer to highly speculative shares priced under $1 from small and unknown companies. Generally they either fetch massive returns for investors or crash and burn dramatically.

Belfort's rise to prominence in the 90s and eventual run in with the Securities and Exchange Commision (SEC), was in part, due to brokering deals for these stocks.

During an interview with Yahoo Finance on Aug. 27, Belfort noted that these types of investments have the “same predictable cycle” which can generate huge returns but can also burn investors who fail to cash out at the right time:

“With those ultra low cap deals, wow you get a hold of one of those things at the right time you can make just massive, massive money. But on the flip side of that you’re playing in someone’s playground, you know you’re not the house, they’re the house.

“You’re coming in there and most of the time you're probably gonna lose,” he added.

Belfort went on to note that people should only invest in low cap crypto assets if they are willing to allocate a small amount of their portfolio to taking gambles, and suggested that they should never fall under the category of a serious investment.

“I don’t think there’s any amount of research that you can do to protect yourself from these ultra low cap [assets], except getting in really, really early. It doesn’t matter if it's good management [or] bad, they’re that low that what's gonna end up happening, it's gonna take its ride up, and then when it gets to the top, people are gonna dump it.”

The Wolf of Wall Street also noted however, that he is primarily looking at Bitcoin (BTC) and Ether (ETH) in relation to long term investments due to their strong fundamentals. He stated he is particularly interested in BTC due to its potential to become a store of value and inflation hedge once the market matures further in the future.

“I just think it's a matter of time that where enough of it gets into the right hands, there’s a limited supply, and as inflations does continue to keep going and going and going, at some point in time there’ll be enough maturity with Bitcoin where it starts to trade more like a store of value and less like a growth stock," he explained.

From crypto hater to proponent

Belfort is one of many popular figures in the investment space to do a 180 on crypto over the past couple of years, joining the likes of Shark Tank investors such as Mark Cuban and Kevin O’Leary.

Back in February 2018, Belfort predicted the price of BTC would eventually crash to zero and described the asset as the “perfect storm for manipulation” due to the thinness of the market at the time. He also questioned BTC’s supposed use case payments as opposed to just being an investment vehicle, and suggested that it would be regulated out of existence.

Commenting on his change in sentiment with Yahoo Finance, Belfort noted he was “wrong” about BTC going to zero and that life is about “constantly adapting and growing.”

He said while he still stands by most of his criticism, the growing mainstream adoption of BTC and crypto, along with an understanding that the sector won’t be banned outright, ultimately changed his mind.

“My original thesis was sovereign risk that the U.S. would just say ‘no more’ like China did and that was the real thing that was driving me to be really bearish on Bitcoin,” he said.

‘World War III Has Begun,’ Says Gerald Celente; Plus, Long-Term BTC Predictions and Scorching US Inflation — Bitcoin.com News Week in Review

July 17, 2022 Bitcoin.com

‘Wolf of Wall Street’ Jordan Belfort Says He’d Be Shocked if You Didn’t Make Money Investing in Bitcoin Long Term

July 11, 2022 Bitcoin.com

‘Wolf of Wall Street’ Jordan Belfort Warns About Investing in Dogecoin and Shiba Inu Cryptocurrencies

December 3, 2021 Bitcoin.com

Finance Author Says $100K Bitcoin Prices Not ‘So Far-Fetched — Don’t Rule It Out’

October 30, 2021 Bitcoin.com

Nifty News: Wolf snaps up Punk, Disney NFTs, Economist mag cover fetches $422K…

October 28, 2021 Coin Telegraph

Nifty News: Wolf snaps up Punk, Disney NFTs, Economist mag cover fetches 2K...

Coin Telegraph

The real-life Wolf of Wall Street Jordan Belfort has vowed that he is “not leaving” NFTs, The Economist raised $422,000 for charity via NFT auction, and the WWE is dropping NFTs.

The wolf of nonfungible streets

Erstwhile crypto skeptic Jordan Belfort has bravely outed himself as an NFT proponent amid the booming growth of the sector in 2021.

Belfort is known for his dodgy antics while working as a stockbroker on Wall Street, with his story being captured in “The Wolf of Wall Street” film starring Leonardo DiCaprio.

The 59-year-old has slammed crypto on multiple occasions, and in 2018 he even compared Bitcoin to the level of fraud that his firm Stratton Oakmont used to engage in before he was indicted for securities fraud and money laundering in 1999.

On Oct. 25, Belfort revealed to his 600,000 followers that he purchased CryptoPunk #6033, depicting a male wearing a durag and smoking a vaporizer pen. According to the transaction history on OpenSea, Belfort spent 102.49 Ethereum (ETH) worth roughly $410,000 on the NFT.

He then followed that up by bullishly tweeting “Wow! I love NFT Twitter! And now that I’m here, I’m not fucking leaving!”

You'll fit in well with the #NFT influencers pic.twitter.com/Uu1uq8N4vy
— Pranksy (@pranksy) October 25, 2021

Earlier this month Belfort unveiled his own upcoming NFT drop, which will feature artwork inspired by The Wolf of Wall Street Movie and his life. While details are sparse at this stage, Belfort tweeted on Oct. 21 that he is currently working on how to “add utility for each holder” of his NFTs so that he can make it a unique drop.

I’m dropping my NFT soon here’s a first look at some of the artwork inspired by The Wolf of Wall Street movie and my life.

Can you spot some of the moments we referenced? pic.twitter.com/twzMRCJc7z
— Jordan Belfort (@wolfofwallst) October 20, 2021

Disney NFTs are the ‘bare necessities'

Disney is taking the plunge into the NFT sector with a collection of tokenized characters from popular movies and shows owned by the multinational giant.

While details of the specific characters have not been announced, there is a vast amount of content to choose from given Disney also owns Pixar, Marvel and the Star Wars franchise.

The drop is set to go live on Nov. 12 and is being launched in collaboration with the VeVe NFT platform. The collection is dubbed “Golden Moments” and any NFT purchaser will also receive three months of free service on the Disney+ streaming app.

VeVe hosts a marketplace for licensed NFTs, and the firm has previously launched digital comics in collaboration with Marvel and DC, along with launching NFTs depicting content from Adventure Time, Monster Hunter, Star Trek and Jurassic Park to name a few.

The Economist’s NFT sale raised $422K for charity

The Economist, the 178-year-old global news publication sold a tokenized magazine cover for around $422,000 on Oct. 25.

The NFT magazine cover was from the “Down the rabbit hole” edition of The Economist on Sept. 18, which explored the world of decentralized finance (DeFi). The cover depicts an Alice in Wonderland-themed illustration, with Alice looking down a rabbit hole while various crypto coins take the plunge below.

The NFT sold via auction for 99.90 ETH ($400,000 at current prices) on Monday, with the profits from the sale going to The Economist Educational Foundation, which is an independent youth outreach charity that teaches young people to analyze current affairs.

WWE seeks NFT-based summer slam

World Wrestling Entertainment (WWE) has penned a deal with Fox’s NFT firm Blockchain Creative Labs to launch licensed NFT collectibles.

The multi-year deal was announced on Oct. 27 and the partnership will see the rollout of NFTs depicting iconic moments in WWE history, along with its stars and events such as WrestleMania and SummerSlam. A marketplace will be launched to host the assets, although the details are yet to be announced.

With the new partnership, it appears that the WWE is looking to learn from the mistakes of its previous NFT drops. WWE hall of famer John Cena labeled his own licensed drop a “catastrophic failure,” last month. Cena said that fans only purchased 7.4% of his NFTs and questioned whether the price point for the 500 Gold tier packages was too high.

“Myself and the folks in the WWE thought $1,000 was a fair price point. We were wrong. We were absolutely wrong,” Cena said at Florida Supercon 2021 on Sept. 12.

Other NFT News

Software giant Adobe announced on Tuesday that it is partnering with major NFT marketplaces including OpenSea, KnownOrigin and SuperRare to allow users to verify the authenticity of the digital content on the platforms.

On Monday, GameStop listed a total of eight jobs for crypto-friendly candidates to work on its NFT platform and Web3 gaming initiatives. The listings include three roles for NFT-experienced software engineers, three jobs for product marketers, and two roles focused on Web 3.0-based gaming.

‘Wolf of Wallstreet’ Jordan Belfort Now Bullish on BTC, Says Crypto Asset Will Reach $100,000

March 22, 2021 Bitcoin.com

jordan belfort