The CEO of deVere Group Nigel Green says that Bitcoin is proving itself to be a safe haven asset that will rival and likely overtake gold.
In a statement made on deVere’s website, Green said that Bitcoin’s surging price amidst the rise in political tension between the US and China was validation of Bitcoin’s status as a safe haven.
Bitcoin Is A Safe Haven
Green said, with ‘safe-haven status’ secured, all eyes were now on its price as it smashed through the $10k barrier, and through what was widely thought of as a $10.5k ‘critical barrier’.
‘Established Bitcoin bulls and new crypto investors could make this happen this week as tensions heightened between the U.S. and China, the world’s two biggest economies,’ said Green.
Green emphasized Bitcoin’s apolitical stance for reasoning behind its promise, saying ‘investors were flocking to safe-haven assets such as Bitcoin that were not tied to any specific country.’
‘Geopolitical issues, such as the U.S.-China spat, will prompt many savvy investors to increase exposure to decentralized, non-sovereign, secure digital currencies, including Bitcoin, to shield them from the turbulence taking place in traditional markets,’ said the deVere CEO.
Bitcoin to Knock Gold Off Its Perch
Green also claimed with the world being driven by tech, Bitcoin has the potential to knock gold off its long held position as the place to store wealth in times of uncertainty.
‘Up to now, gold has been known as the ultimate safe-haven asset,’ said Green. ‘But Bitcoin […]could potentially knock gold from its long-held position in the future as the world becomes ever-more tech-driven.’
The deVere Group, which was established by Green in 2002 and has bases all over the world now has over $10 billion AUM, and is a leading financial advisory service for expats globally.
This boost of confidence to Bitcoin comes as little surprise to anyone in the Bitcoin space, but will no doubt beget interest from its millions of clients. Something that Green seems to be giving urgency to.
In a parting statement, he said, ‘Cryptocurrencies are widely regarded as the future of money – yet what is less reported upon is that Bitcoin and its peers are increasingly regarded a safe haven in the present.’
Bitcoin Is a Safe Haven And Much More
The boost of confidence from a leading player in the legacy financial industry is always welcome, and to compare and even declare it could overtake gold is bullish indeed.
The deVere Group have a history of investing in global assets that ensure their global clients are recommended only the safest of global investments.
And as tensions between China and the USA rise, and the printing presses around the world going brrr, Bitcoin is certainly proving itself.
Bitcoin smashed through the $10k barrier, and then almost immediately through the $11k resistance.
Bitcoin is a safe haven, and more. It’s a digital money that’s built for the digital age. Gold will always be with us, but Bitcoin is much more useful.
Author: Tommy Limpitlaw