The CEO of financial services firm deVere Group, Nigel Green believes that the future of money is “digital” and recognizes Bitcoin (BTC) as the world’s largest digital currency.
Green says that institutional investors are consequently allocating more of their resources to Bitcoin and other crypto assets.
“This is why more and more institutional investors, household name investors, Wall Street giants and multinational corporations are all sensibly, increasing their exposure to crypto and bringing with them capital, reputational clout and expertise.
They understand and value the key characteristics of Bitcoin and cryptocurrencies are designed for this century and, therefore, are growing in appeal.”
According to Green, the qualities that make Bitcoin and other crypto assets appealing include the fact that they are unencumbered by geographical restrictions.
“These include that they’re borderless, making them perfectly suited to a globalized world of commerce, trade, and people; that they are digital, making them an ideal match to the increasing digitalization of our world; and that demographics are on the side of cryptocurrencies as younger people are more likely to embrace them than older generations.”
The deVere Group CEO also says that the International Monetary Fund (IMF) is on the “wrong side of history” after the global body earlier this week asked El Salvador to revoke Bitcoin’s legal tender status.
“But the IMF asking a pioneering sovereign nation to drop a future-focused financial policy that attempts to bring it out of financial instability and reliance on another country’s currency shows the institution to be on the wrong side of history.
Is the IMF scared of the future of finance? Why do they continue to want to pile on debts to poorer countries that they know are unlikely to be able to repay using traditional currencies? Is the IMF worried about the domino effect of nation-state adoption that might weaken their dominant global influence? If so, is this a warning shot to those countries?”
El Salvador officially adopted Bitcoin as a legal tender in September of 2021.
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The post Institutional Investors Are Increasing Exposure to Crypto, According to deVere Group CEO Nigel Green – Here’s Why appeared first on The Daily Hodl.
