- Jordan Belfort, the infamous “Wolf of Wall Street” says he owns six figures in XRP, and that the asset is headed to $10.
- The crypto critic-turned-proponent additionally boasts of holding one CryptoPunk NFT.
Jordan Belfort, the infamous former stockbroker known as “The Wolf of Wall Street,” has openly expressed his support for the embattled XRP cryptocurrency.
In a recent tweet, Belfort claimed to own a six-figure sum in the cryptocurrency that has been the subject of controversy in crypto regulation. He also forecasts a $10 future price, which would happen if the asset’s market cap is somewhere around $500 billion. He, however, did not specify a time for when he thinks his price prediction could mature.
I am a large holder of XRP (six figures)! My TV guy thinks it’s the best thing since sliced bread. Thinks it’s going to be $10,000. I hope he’s right, but I’ll settle for $10.
Members of the XRP community took his endorsement positively and welcomed him as their own.
XRP new Favorite for “Wolf of Wall Street”
At press time, XRP was trading at $1.07 and ranked the 7th largest cryptocurrency with a $50 billion market value. Additionally, the asset has almost doubled in price since the US regulator filed a lawsuit against it in December last year. Nonetheless, XRP is still 68 percent away from its $3.40 peak registered on Jan. 7, 2018.
Of note, Belfort was one of the avid critics of Bitcoin, openly labelling it as nothing but a “scam” in 2018. He is also one of the many ‘reformed’ skeptics who are now cryptocurrency cheerleaders. He shares the category with Shark Tank’s billionaire Mark Cuban and Kevin O’Leary (Mr Wonderful), and billionaire investor Carl Icahn. Even gold proponent and hardcore Bitcoin skeptic Peter Schiff admitted he regrets not buying Bitcoin earlier on.
Belfort recently gave bullish sentiments for both Bitcoin and Ethereum. The convicted felon also boasts of being an NFT fan. He now says he owns one of the famed CryptoPunk NFTs, with an avatar of it for his Twitter profile picture. But for all his crypto support, Belfort still holds that Tether (USDT) is a “scam” and “massive fraud.” He previously argued that Tether issuances were used to cause the 2017 inflationary effect on Bitcoin (BTC).
Related: Confusion cleared after suspicious $500M CryptoPunk sale- here are the details
At the same time, Belfort argued that the crypto industry needs “massive” crypto regulation. In his opinion, regulatory oversight would benefit the industry just like it did with the bonds market.
Legal tribulations
Meanwhile, his newly-proclaimed digital asset XRP currently awaits a court ruling on the expert discovery deadline. The Securities and Exchange Commission (SEC) requested to have the deadline extended into the new year but Ripple is fighting against this.
Many members of the XRP community hold bullish sentiments as they await the end of the almost year-long lawsuit. Even Coinbase CEO Brian Armstrong recently remarked that the case is going better than expected.
Related: The Ripple case seems to be going better than expected: Coinbase CEO