Former stockbroker Jordan Belfort, known colloquially as the “Wolf of Wall Street” has likened low market cap crypto assets to penny stocks due to their extreme price volatility.
Penny stocks refer to highly speculative shares priced under $1 from small and unknown companies. Generally they either fetch massive returns for investors or crash and burn dramatically.
Belfort's rise to prominence in the 90s and eventual run in with the Securities and Exchange Commision (SEC), was in part, due to brokering deals for these stocks.
During an interview with Yahoo Finance on Aug. 27, Belfort noted that these types of investments have the “same predictable cycle” which can generate huge returns but can also burn investors who fail to cash out at the right time:
“With those ultra low cap deals, wow you get a hold of one of those things at the right time you can make just massive, massive money. But on the flip side of that you’re playing in someone’s playground, you know you’re not the house,...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...