{"id":171313,"date":"2020-05-29T10:15:30","date_gmt":"2020-05-29T14:15:30","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=171313"},"modified":"2020-05-29T10:04:49","modified_gmt":"2020-05-29T14:04:49","slug":"stimulus-packages-to-steadily-boost-the-price-of-bitcoin","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/05\/stimulus-packages-to-steadily-boost-the-price-of-bitcoin\/","title":{"rendered":"Stimulus packages to steadily boost the price of Bitcoin"},"content":{"rendered":"
May 29, 2020<\/div>
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By George Prior<\/strong><\/p>\n

The price of Bitcoin and other cryptocurrencies is set to rise due to the limitations of record-shattering stimulus packages, affirms the CEO of one of the world\u2019s largest financial advisory and fintech organizations.<\/p>\n

The comments from Nigel Green, chief executive and founder of deVere Group, come as the European Commission on Wednesday proposed a \u20ac750 billion ($826 billion) stimulus package to help the EU towards economic recovery.<\/p>\n

In addition, in the U.S., the House passed a record-breaking $3 trillion relief package. Other countries\u2019 central banks, including those in China, Japan and Australia, have taken similar measures.<\/p>\n

Mr Green says: \u201cThe steps being taken by governments and central banks around the world to boost their respective economies can be expected to trigger a steady increase in the price of Bitcoin.<\/p>\n

\u201cAs the largest cryptocurrency by market capitalisation, this will have the effect of bringing up the wider crypto sector too.<\/p>

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\u201cBy printing huge sums of helicopter money to push into financial systems, traditional currency becomes devalued.<\/p>\n

\u201cBitcoin, of course, cannot simply be printed. Indeed, it is living up to its reputation as \u2018digital gold.\u2019 Like the safe-haven precious metal, it\u2019s widely accepted as being a store of value and is valued for its scarcity.\u201d<\/p>\n

He continues: \u201cThere\u2019s also the legitimate concern over inflation.<\/p>\n

\u201cGovernments are promising literally boundless stimulus.\u00a0 This money has to go somewhere, so will prices rise? Many experts are expressing fears about a longer-term inflationary boom.<\/p>\n

\u201cTo hedge against inflation risks, it is likely that more and more investors will increase their exposure to Bitcoin and other digital currencies, driving up prices.\u201d<\/p>\n

A high-profile cryptocurrency advocate, Nigel Green has recently noted that looking beyond the current macro climate, we will see an upward, long-term trajectory in the price of Bitcoin due to real-world issues it addresses and increasing adoption.<\/p>\n

The deVere CEO concludes: \u201cBy the printing of never-seen-before amounts of money, traditional currencies are devalued, inflation fears rise, and crypto prices will steadily increase.\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.<\/em><\/p>\n

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By George Prior The price of Bitcoin and other cryptocurrencies is set to rise due to the limitations of record-shattering stimulus packages, affirms the CEO of one of the world\u2019s largest financial advisory and fintech organizations. The comments from Nigel Green, chief executive and founder of deVere Group, come as the European Commission on Wednesday […]<\/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-171313","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171313","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=171313"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171313\/revisions"}],"predecessor-version":[{"id":171315,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171313\/revisions\/171315"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=171313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=171313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=171313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}