The year 2022 has been a very rough one for Bitcoin and the general crypto market. In the initial 11 months of the year, BTC declined by about 65%. Then, when it appeared that BTC gained stability at the $20K price mark, the FTX contagion broke out.

The adverse event has brought the leading coin, Bitcoin, down by around 75% from its peak price of $68,789. BTC currently trades at $16,823.

Notwithstanding, Bitcoin is still more promising than the rest of the altcoins. Therefore, several experts still believe prospective crypto investors can opt for BTC now, as it projects a positive future.

As for the Ethereum token, its price change in the past 24 hours is -1.94%, with a trading price just above the $1,200 mark. Ethereum is also believed to be profitable in the long run, given its transition to 2.0 and potential to revolutionize the web.

Bitcoin And Ethereum As Profitable Investment Options

Meanwhile, a recognized stockbroker, Jordan Belfort, has expressed his thoughts concerning the profitability of Bitcoin and Ethereum. In his comment, he stated that both digital tokens are the safest to venture into.

He admonishes crypto investors to get into the ecosystem with little capital. This is because of the unpredictable risks and volatility of these digital tokens.

He further shared some lights on the recent FTX incident. He cited that investors couldn’t identify the scam of the exchange. But this is not a yardstick to disregard investing in Bitcoin and Ethereum.

The stock broker also announced that his BTC holdings are still intact, with more purchases already made. His actions are backed by the belief that BTC will bring a huge ROI in a decade or less.

‘Wolf Of Wall Street’ On Crypto Adoption

Belfort, also known as “Wolf Of Wall Street,” shared information on his past dealings. He stated that the community had never implemented crypto a few years back. At the time, most of its dealings were connected to the fading “Great Fools Theory.”

This theory proposes high prices due to the overpriced securities sold to so-called greater fools. Such transactions occur regardless of the securities’ value and continue until the market is devoid of greater fools.

The name The Wolf of Wall Street was inspired by the popular 2013 movie – The Wolf of Wall Street. It’s a movie written by Terence Winter and directed by Martin Scorsese. Its storyline centered on Jordan Belfort of 2007, who displayed great passion as a stockbroker in NYC (New York City), United States.

Getting into 2021, the stock broker observed the rapid development of Bitcoin and eventually opted in. During the period, Belfort had hoped that the price of BTC would surge to $100K before 2021 wrapped up. His reason was based on the fixed max supply of tokens, which has remained at 21 million coins.

Although the expectation was never met, his hopes are still high, which is evident in how he speaks highly of the coin. According to him, investors should not expect Bitcoin to yield sudden profits. Instead, it’s better to venture into the coin with a long-term mindset to make the most out of it.

Featured image from Pixabay, chart from TradingView.com

Shiba Inu, Bitcoin, Dogecoin and other cryptocurrencies are now accepted as payment by Boston-based accounting firm Wolf & Company.

The top 100 accounting firm, which dates back more than a century, announced on its official website that it would be accepting cryptocurrencies via crypto payments processor Bitpay.

Aside from Shiba Inu, Bitcoin and Dogecoin, BitPay also supports other cryptocurrencies like Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Wrapped Bitcoin (WBTC) and five USD-pegged stable coins (BUSD, DAI, GUSD, USDC and USDP).

Hey @ShibainuCoin holders, $SHIB is now listed on XcelTrip.

Use $SHIB to book your holidays on https://t.co/ksvq9LMQOf.

2.3 million hotels
450+ airlines

Download the #XcelTrip app & book your next #holiday.
https://t.co/Whr3pj6Hxm #ShibaInu #newlisting pic.twitter.com/k5LFcTrISy

— XcelTrip-Travel With Crypto (@xceltrip) May 25, 2022

Shiba Inu continues to gain popularity and is now accepted by a growing number of businesses. Shibainuart reported that Shiba Inu has been added to XcelTrip, allowing SHIB to be used to book vacations, over 2.3 million hotels and over 450 airlines.

Shiba Inu team sees new additions

Shiba has also added a new addition to its team in the person of Sherri Cuono, who joins Shiba Inu Metaverse’s team as an advisor. Sherri Cuono has worked on various projects in gaming, entertainment, healthcare and enterprise.

For Immediate Release: #ShibArmy, We proudly welcome Sherri Cuono to the Metaverse team.

Visit https://t.co/w29zPzRr4M to get started on SHIB – The Metaverse

Learn more..https://t.co/YBqv0l8055

— Shib (@Shibtoken) May 25, 2022

Earlier in the week, Shiba Inu announced that entertainment veteran Marcie Jastrow, who has served as senior vice president at Franco-American multinational corporation Technicolor, was joining the Shiba Inu Metaverse team. The former Technicolor executive will be primarily responsible for securing brand partnerships.

Shiba Inu declined by nearly 10% on May 26 as the crypto market sell-off escalated early Thursday, with Ethereum (ETH) and other alternative cryptocurrencies (altcoins) taking more damage than Bitcoin (BTC). Shiba Inu was trading at $0.0000104 at press time. Despite the price slump, Shiba Inu holders continue to grow at 1,170,137, suggesting investors’ long-term faith in the asset.

Meme coins like Shiba Inu [SHIB] and Dogecoin [DOGE] have been residing under the limelight and have no intention of moving out. While the globe has taken a keen interest in these assets, a few individuals have been having a hard time viewing these assets as real cryptocurrencies. Jordan Belfort, who also goes by ‘Wolf of Wall Street,’ belonged to the latter.

The term “shitcoin” has made quite the round in the crypto-verse. Cryptocurrencies that had little value and were often part of pump and dump schemes are often referred to as shitcoins. Belfort decided to categorize both Shiba Inu as well as Dogecoin as shitcoins.

Appearing in a recent interview with The Sun, the Wolf of Wall Street expressed his thoughts about the meme coins that had created quite an uproar in the market. However, he did not have the greatest things to say about these assets.

“Shiba Inu and Dogecoin are jokes”

Belfort has been extremely vocal about his interest in crypto. But Shiba Inu and Dogecoin just didn’t make the cut. Despite being a fan of blockchain, Belfort noted that he detested the fact that there were a lot of shitcoins in existence. He believed that these assets served no purpose and their main agenda was to “separate people from their money.”

Belfort opined that shitcoins were the product of an unregulated market. Having been to prison himself, Belfort suggested that those behind shitcoins should “go to jail” since they aren’t legitimate, he added. The former stockbroker further stated,

“You hear crazy stories of people making millions and billions but for every person like that, there are 10,000 or 100,000 people getting their a** handed to them in Shiba Inu. [..] It’s not a proper investment.”

While the entire crypto market has been booming, Belfort noted that prominent assets that have great value could be shadowed by shitcoins.

Additionally, stressing the involvement of the government, Belfort said the “sooner governments step in the better it is for crypto.”

After a pretty good run, Shiba Inu was seen slipping by 10.27% in the last 24-hours and its price dropped to a low of $0.0000462.

Jordan Belfort, the former stockbroker whose memoir was made into a film starring Leonardo DiCaprio, has warned about investing in meme cryptocurrencies, like dogecoin (DOGE) and shiba inu (SHIB). Belfort explained that “People are taking advantage of an unregulated market,” emphasizing that “The sooner governments step in the better it is for crypto.”

The Wolf of Wall Street’s Advice on Dogecoin and Shiba Inu Cryptocurrencies

Jordan Belfort, aka the Wolf of Wall Street, has warned investors about putting money in meme cryptocurrencies, like dogecoin (DOGE) and shiba inu (SHIB), in an interview with The Sun, published Tuesday.

“I’m a fan of blockchain but there’s a lot of nonsense out there, a lot of shit coins which serve no purpose and are only there to separate people from their money,” he opined.

Belfort is a former stockbroker whose memoir was adapted into a film titled “The Wolf of Wall Street,” starring Leonardo DiCaprio and directed by Martin Scorsese. Belfort founded Stratton Oakmont which functioned as a boiler room that marketed penny stocks and defrauded investors with “pump and dump” stock sales. He pleaded guilty to fraud in 1999 and went to prison for 22 months; he is now a motivational speaker.

“I got greedy. … Greed is not good,” he said in 2014 at a motivational talk in Dubai.

The Wolf of Wall Street author told The Sun:

You hear crazy stories of people making millions and billions but for every person like that there are 10,000 or 100,000 people getting their a** handed to them in shiba inu … It’s not a proper investment.

Belfort added: “People are taking advantage of an unregulated market and creating shit coins which have no value and have no use.”

Both dogecoin and shiba inu have gained immense popularity over the past months. At the time of writing, DOGE is the 10th largest crypto by market cap and SHIB is the 13th largest. The price of dogecoin is $0.210057. It has gained more than 6,154% over the past year. Shiba inu’s price is $0.00004284. The meme coin has gained 66,650,613.9% over the past year.

Belfort then lashed out at crypto investment schemes like MILF coin and yummy coin, stating that “unscrupulous people start the coins and get into a chat room and saying stuff that’s blatantly illegal.”

He stressed: “People should go to jail seriously – they are not legitimate. There is no way they are ever going to work … My guess is that someone will end up getting indicted for this stuff.”

Emphasizing, “What I hate about it the most is that legitimate stuff – it gives those digital coins a bad name,” he opined:

The sooner governments step in the better it is for crypto because when authorities start to regulate a dark market, it gets bigger and better.

What do you think about the Wolf of Wall Street’s advice? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons