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The 'Wolf of Wall Street' warns about crypto

Following the FTX collapse, Jordan Belfort's concerns about cryptocurrencies.

By Finst News
• 2 min read
The 'Wolf of Wall Street' warns about crypto

Following the FTX collapse, Jordan Belfort's concerns about cryptocurrencies. Only Bitcoin and Ethereum are acceptable.

In a YouTube video, former broker and crash prophet Jordan Belfort, also known as the "Wolf of Wall Street", takes stock of FTX, the bear market, and he warns against cryptocurrencies. He calls the fall of the third-largest crypto exchange a scam that no one could defend against.

Bitcoin and Ethereum still matter

He goes on: "That FTX was a scam doesn't mean you should completely ignore Bitcoin and Ethereum." Yet the "Wolf" makes it clear that he would, aside from these two coins, not touch crypto right now. "Bitcoin or Ethereum should be a very small part of the total investment portfolio," the 60-year-old nonetheless advises. According to him, the "best investment" is the U.S. index fund S&P500.

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