Rajarshi Mitra
Independent Analyst
- Nigel Green, the CEO of deVere Group, says that Bitcoin will be more attractive in the upcoming months.
- The $10 billion wealth advisor believes Bitcoin will be reinforced by the economic shifts in the marketplace caused by Coronavirus.
The CEO of financial advisory deVere Group, Nigel Green, believes Bitcoin will become very attractive in the upcoming months because of post-coronavirus economic policies. deVere Group holds $10 billion in assets under management. According to Green, BTC will be bolstered by economic shifts in the marketplace.
Speaking with Financial Mirror, the CEO emphasized the “tremendous” buying pressure of bitcoin halvings in the past and expected May’s block reward reduction to be a similar catalyst. He explained that the economic meltdown resulting from Coronavirus has created market conditions that are favorable for Bitcoin and crypto-assets.
Green said:
We’re moving towards an era of zero-interest rates. This reduces the incentive to keep fiat currency. In addition, rate cuts typically lead to higher inflation, which reduces the purchasing power of traditional currencies.
Therefore, Bitcoin, and other decentralized cryptocurrencies, become more attractive and the price will adjust upwards accordingly.
In an earlier blog post, Green had also argued that the current pandemic would force investors to seek out new sectors of the economy. He wrote:
Savvy investors are now actively seeking out these ‘new world’ sectors and businesses so as to accumulate and safeguard their wealth.
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