The crypto industry is in harsh times as the price of Bitcoin and other crypto digital assets continues to fall. The volatility in the market has made many to suggest a way out.
According to Jordan Belfort, a former Wall Street stockbroker, a long-term is required when investing in the leading cryptocurrency, bitcoin. Speaking on Yahoo Finance’s The Crypto Mile, Belfort opined that Bitcoin investment required a strategy beyond one or two years.
In his words, ”If you take a three or maybe five-year horizon, I would be shocked if you didn’t make money because the underlying fundamentals of Bitcoin are really strong.”
Belfort added, ”With reasonable luck, I think if you take a 24-month horizon you’ll almost certainly make money.”
The financial expert also gave his opinions about the future of BTC. He said it is just a matter of time before BTC emerged as a store of value based on its fixed supply of 21 million coins and heightened inflation.
”It has a limited supply, and as inflation keeps rising there will come a time when bitcoin will start to trade more like a store of value and less like a growth stock.” he said.
Bitcoin has been trading on shaky grounds because tightened macroeconomic factors have been unfavorable. For instance, the leading cryptocurrency has been struggling to hold the psychological price of $20K, which is way below the all-time high (ATH) of $69K set in November.
BTC was up by 0.56% in the last 24 hours to hit $20,204 during intraday trading, according to CoinMarketCap.
