Asset manager claims investors are shifting $12 billion into Bitcoin and other cryptos as a result of the global banking crisis
As the United States enters a new phase of quantitative easing, Nigel Green, CEO of the $12 billion financial advice business deVere Group, says investors are exploring alternatives like Bitcoin and cryptocurrencies.
In a blog post, Green argues that the actions of the U.S. Treasury after the collapse of Silicon Valley Bank reflect a new wave of money creation and financial stimulation, prompting investors to seek strategies to safeguard their wealth.
Green identifies Bitcoin’s limited quantity of 21 million coins as one of its most attractive characteristics in today’s economic climate.
The financial crisis catalyzed the world’s biggest cryptocurrency, Bitcoin, as global investors sought haven, alternative currencies…
The SVB rescue package is a new kind of quantitative easing. (QE). This increases the dollar supply in circulation, which may lead to a decline in the dollar’s value relative to other currencies due to the currency’s diminished buying power.
As a result, investors seek alternatives, such as Bitcoin, which has a restricted supply.” According to Green, the global banking crisis poses a significant danger to financial stability and marks a watershed moment for the leading cryptocurrency asset.
“Because of looming threats to financial stability, we now anticipate that the Fed will halt its aggressive rate-hiking program, which is good for Bitcoin. Reduced interest rates make borrowing less expensive, which may lead to increased spending and investment and a rise in BTC demand as investors seek alternatives with the possibility of greater returns.
The aftermath of the most recent financial crisis serves as a springboard for a greater purpose for the world’s biggest cryptocurrency. It’s a pivotal moment in history.”
