Bitcoin News: The Wolf of Wall Street Invests in Bitcoin

Jordan Belfort, aka The Wolf of Wall Street, continues to recommend buying bitcoin. W: Big Bitcoin News at Beeple!

Former stockbroker Jordan Belfort has changed his mind about Bitcoin in recent years. He is even now recommending investors to invest heavily in BTC because “in three to five years, BTC should bring in profits.” More news: Cathy Wood, star investor at ArkInvest, sees the bottom not being hit (yet).

We no longer have to mention the above-mentioned gentlemen. This is a 24/7 rookie on Bitcoin!

Not long ago, Balfour made derogatory remarks about the most successful cryptocurrency – and now he’s a huge fan! The Wolf of Wall Street, best known for the movie of the same name, was sentenced to several years in prison in the United States in the 1990s for fraud and money laundering.

“If you use a 3-5 year investment horizon, I will be shocked if you lose money. Bitcoin fundamentals are really strong.”

Balfour created a furore last year when he claimed that bitcoin would break the $100,000 barrier in 2021. According to Wolf of Wall Street, bitcoin is an amazing store of value and an excellent guard for inflation.

However, it does give a warning, especially to newcomers. These should be prepared for strong price swings and dips in the future. Since Bitcoin is still a relatively “new” asset, a high degree of similarity to the stock market and other investment classes is common.

BTC News: The ArkInvest Model, Recession Risks, and Reserves

In this regard, at least, he shares the opinion with Cathy Wood, CEO of ArkInvest. In the latest Bitcoin Monthly release, the investment firm predicts a short-term negative trend for Bitcoin. The market is currently in a bad mood, mainly due to the news regarding the Terra Luna crash and percentage issues.

The company rates all-time highs in realized losses as positive, but at the same time warns of more unrealized losses, which could further weaken the market.

Glassnode analysis tool shows that about 50 percent of all bitcoin investors are currently in positive territory. So the deadlock. Compared to November 2021, it was almost 95 percent!

Photo from studio.glassnode.com

According to the report, due to the uncertain macroeconomic situation and more bad news, the market could correct more in the short to medium term. Major indicators, such as the US Treasury yield curve, are clearly indicating a recession.

According to the latest news from Bloomberg, the probability of a recession in the next 12 months has risen to 38 percent.

Bitcoin News: Bloomberg Wolf of Wall Street
Image from bloomberg.com

However, we must mention that the model has often been wrong in the past (see 2016).

According to the reserve risk model, now is the time to buy more! The model puts the confidence of long-term bitcoin investors in relation to the current bitcoin price. In other words, if confidence is high and price is low, this is the time to get in.

News: BTC and the Inverse Risk Model
Photo from studio.glassnode.com

The green area on the lower right edge of the image represents the best time to buy more. The model mainly uses bitcoins sold by long-term investors (Hodler) and the days before that. The underlying assumption is that scammers know the market better than regular people.

Whistle Soon with Bitcoin NFT?

American artist Beeple raised a total of $69 million at auction for NFT’s “Everydays: The First 5000 Days” last year. Now Mike Winkelman, better known by his real name, has tweeted the following:

Is this an indication that Beeple wants to issue an exclusive Bitcoin NFT? This could be a tribute to the last Bitcoin mined!

If Beeple is still bullish on Bitcoin, we users and investors should not be disappointed either. Better days are coming, while we must do what’s harder: HODL and buy back. #Nofinancialadvice

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