{"id":171708,"date":"2020-06-05T07:57:35","date_gmt":"2020-06-05T11:57:35","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=171708"},"modified":"2020-06-05T07:57:35","modified_gmt":"2020-06-05T11:57:35","slug":"why-bitcoin-is-likely-to-soar-in-value-devere-ceo","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/06\/why-bitcoin-is-likely-to-soar-in-value-devere-ceo\/","title":{"rendered":"Why Bitcoin is likely to soar in value: deVere CEO"},"content":{"rendered":"
June 5, 2020<\/div>
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By George Prior <\/strong><\/p>\n

– Bitcoin \u2013 already one of the year\u2019s best-performing assets – is likely to \u201csoar in value\u201d this year with central banks\u2019 money printing agendas and a spike in public interest.<\/p>\n

This is the bullish comment from the CEO of deVere Group, one of the world\u2019s largest financial advisory and fintech organzsations.<\/p>\n

It follows a wider positive investor sentiment regarding the leading cryptocurrency. This week Bloomberg analysts said in a note that it could jump to $20,000 in 2020.<\/p>\n

Mr Green affirms: \u201cBitcoin price is already up around 30% from the beginning of the year, putting it on track to be one of the year\u2019s best-performing assets.<\/p>\n

\u201cI believe it would be surprising not to see Bitcoin soar in value further throughout this year for three key reasons.<\/p>

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\u201cFirst, the massive money-printing, or quantitative easing, programmes currently being rolled-out by central banks around the globe devalue traditional currencies and provide a boost for other recognised stores of value, such as Bitcoin and gold.<\/p>\n

\u201cSecond, the global health emergency has been accelerating the demand and need for digital money.<\/p>\n

\u201cAnd third is that it is a legitimate hedge against longer-term inflation concerns.\u201d<\/p>\n

He continues: \u201cGlobally, we have seen client interest in Bitcoin, and other cryptocurrencies such as ETH, spike since the beginning of May.<\/p>\n

\u201cThere\u2019s been about a 25% month-on-month jump in enquiries about deVere Crypto, our crypto exchange app.<\/p>\n

\u201cWe largely attribute this to the pandemic collectively focusing minds on readjusting to a new world.<\/p>\n

\u201cOf course, our lives in this new era, which was on its way but which has been ushered in faster due to Covid-19, will be increasingly tech-driven.\u00a0 This includes our financial lives, meaning digital currencies such as Bitcoin, amongst other fintech [financial technology] solutions.\u201d<\/p>\n

Geopolitical risks, including the heightening of U.S.-China tensions, Brexit and the U.S. presidential election can also be \u201cexpected to serve as a boost for Bitcoin\u201d says Mr Green.<\/p>\n

\u201cInvestors will increase exposure to decentralized, non-sovereign, secure digital currencies, such as Bitcoin, to help shield them from the potential issues in traditional markets.\u201d<\/p>\n

The deVere CEO concludes: \u201c2020\u2019s global public health emergency, the record-shattering policies implemented to soothe economic downturns, political uncertainty and social unrest can be expected to drive the price of Bitcoin upwards.\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

 <\/p>\n","protected":false},"excerpt":{"rendered":"

By George Prior – Bitcoin \u2013 already one of the year\u2019s best-performing assets – is likely to \u201csoar in value\u201d this year with central banks\u2019 money printing agendas and a spike in public interest. This is the bullish comment from the CEO of deVere Group, one of the world\u2019s largest financial advisory and fintech organzsations. […]<\/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-171708","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171708","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=171708"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171708\/revisions"}],"predecessor-version":[{"id":171709,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/171708\/revisions\/171709"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=171708"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=171708"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=171708"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}