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The 'Wolf of Wall Street' sees bitcoin as a long-term hedge against inflation

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Jordan Belfort believes that in the future cryptocurrency will be traded as a means of savings and not as an investment instrument.

Former American stockbroker Jordan Belfort, whose story inspired the director of Martin Scorsese for the movie ‘The Wolf of Wall Street’, said on Yahoo Finance’s new show ‘The Crypto Mile’ that it is more profitable to buy bitcoins for more than one or two years as long-term insurance against inflation.

According to the expert, as the investment horizon increases, the probability of obtaining profits increases.

“If you look beyond the 24-month horizon, you can make money if you’re lucky. If you take a three- or five-year period, I’d be surprised if you don’t make money,” Belfort said.

Belfort believes that there will come a time when bitcoin will be traded as a means of saving and not as an investment instrument with a growth perspective. This is due to the fact that the supply of cryptocurrency is limited, while global inflation continues to rise.

The price of bitcoin fell below 20,000 in June, which has been defined by experts as “the worst month in the history” of the cryptocurrency.

In addition, Belfort gave advice on how to protect yourself against cryptocurrency fraud. The expert recommended that investors be careful when working with a specific crypto project and get acquainted with its executive team, as well as verify the usefulness of the projects in which they want to invest.

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