{"id":162874,"date":"2020-01-06T08:30:06","date_gmt":"2020-01-06T13:30:06","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=162874"},"modified":"2020-01-06T07:12:36","modified_gmt":"2020-01-06T12:12:36","slug":"bitcoin-price-to-surge-amid-heightening-geopolitical-tensions","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/01\/bitcoin-price-to-surge-amid-heightening-geopolitical-tensions\/","title":{"rendered":"Bitcoin price to surge amid heightening geopolitical tensions"},"content":{"rendered":"
January 6, 2020<\/div>
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By George Prior<\/strong><\/p>\n

Escalating tensions between the U.S. and Iran are likely to drive the price of Bitcoin higher, affirms the CEO of one of the world\u2019s largest independent financial services and advisory organizations.<\/p>\n

The comments from Nigel Green, the chief executive and founder of deVere Group, come as Tehran threatens \u201crevenge\u201d on the U.S. over the killing of Qassem Soleimani, the commander of Iran\u2019s elite Quds Force, who was in charge of the country\u2019s regional security strategy.<\/p>\n

It remains uncertain how, when, or if Iran will respond, but any retaliation is unlikely until after the end of three days of mourning.<\/p>\n

Mr Green notes: \u201cBitcoin, the world\u2019s largest cryptocurrency by market capitalization, jumped 5 per cent as news of the strikes broke around the world on Friday. Simultaneously, the price of gold \u2013 known as the ultimate safe-haven asset – also moved higher.<\/p>\n

\u201cWe\u2019ve seen Bitcoin price surges before during times of heightened geopolitical tensions. For instance, in August it jumped as global stocks were rocked by the devaluation of China\u2019s yuan during the trade war with the U.S.<\/p>

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\u201cThis latest Bitcoin price increase underscores a mounting consensus that Bitcoin is becoming a flight-to-safety asset.<\/p>\n

\u201cBitcoin is living up to its reputation as \u2018digital gold\u2019. Bitcoin – which shares gold\u2019s characteristics of being a store of value and scarcity and of being perceived as being resistant to inflation \u2013 could potentially dethrone gold in the future as the world becomes increasingly digitalized.\u201d<\/p>\n

He continues: \u201cWith an escalation in geopolitical turbulence, which typically unsettles traditional markets, it can be expected that a growing number of investors will decide to increase their exposure to decentralized, non-sovereign, secure currencies, such as Bitcoin, to help protect them from the turmoil.<\/p>\n

\u201cThe serious concerns created by geopolitical issues, such as the U.S.- Iran issue will likely prompt an increasing number of institutional and retail investors to diversify their portfolios and hedge against those risks by investing in crypto assets.<\/p>\n

\u201cThis will push the price of Bitcoin higher. In turn, due to the market influence of Bitcoin, other major digital currencies will receive a price boost.\u201d<\/p>\n

The deVere CEO concludes: \u201cBitcoin was one of the best-performing assets of 2019 and we can expect to see its investment appeal further strengthen as it becomes known as a safe-haven asset during periods of heightened geopolitical tensions.\u201d<\/p>\n

About:<\/strong><\/p>\n

deVere Group is one of the world\u2019s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.\u00a0 It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement<\/p>\n

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By George Prior Escalating tensions between the U.S. and Iran are likely to drive the price of Bitcoin higher, affirms the CEO of one of the world\u2019s largest independent financial services and advisory organizations. The comments from Nigel Green, the chief executive and founder of deVere Group, come as Tehran threatens \u201crevenge\u201d on the U.S. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-162874","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/162874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=162874"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/162874\/revisions"}],"predecessor-version":[{"id":162875,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/162874\/revisions\/162875"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=162874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=162874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=162874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}