{"id":172364,"date":"2020-06-18T12:30:38","date_gmt":"2020-06-18T16:30:38","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=172364"},"modified":"2020-06-18T09:31:50","modified_gmt":"2020-06-18T13:31:50","slug":"trumps-reported-bitcoin-instruction-shows-he-is-out-of-touch-devere-ceo","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2020\/06\/trumps-reported-bitcoin-instruction-shows-he-is-out-of-touch-devere-ceo\/","title":{"rendered":"Trump\u2019s reported Bitcoin instruction shows he is out of touch: deVere CEO"},"content":{"rendered":"
June 18, 2020<\/div>
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By George Prior<\/strong><\/p>\n

Trump\u2019s reported instruction to the U.S Treasury Secretary to \u2018go after Bitcoin\u2019 highlights how \u201cbackward-looking and out-of-touch\u201d he is, says the CEO of one of the world\u2019s largest independent financial advisory and fintech organizations.<\/p>\n

The slamming indictment from Nigel Green, the chief executive and founder of deVere Group, follows revelations in the new book by former national security adviser John Bolton.<\/p>\n

In ‘The Room Where It Happened’, Bolton says he heard Donald Trump tell Treasury Secretary Steven Mnuchin to \u201cgo after Bitcoin.\u201d<\/p>\n

Mr Green says: \u201cIt is highly likely that Trump did, indeed, launch an attack on Bitcoin. Last summer, he went on a Twitter tirade lambasting the world\u2019s largest cryptocurrency.<\/p>\n

\u201cAssuming the instruction to the Treasury Secretary is true, it highlights how backward-looking and out-of-touch the current U.S. President is on this issue.\u201d<\/p>

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He continues: \u201cCryptocurrencies, such as Bitcoin, are becoming almost universally regarded the future of money.<\/p>\n

\u201cWhy? Because of the staggering pace of the digitalization of our lives and cryptocurrencies are digital by their very nature.<\/p>\n

\u201cThey\u2019re also borderless, making them perfectly suited to the world of commerce, trade, and the movement of people.\u201d<\/p>\n

He goes on to add: \u201cThe serious coronavirus-triggered global recession, like the crash of 2008\/2009,\u00a0 has created a loss of trust in governments, central banks and legacy financial institutions, leaving the door open for the immutable blockchain technology that powers cryptocurrencies.<\/p>\n

\u201cIn addition, it comes down to demographics. Younger generations, such as Millennials and Gen Z, are digital natives and more likely to hold crypto assets. If demographics are on your side, the future probably is, too.<\/p>\n

\u201cAnother important indicator is that institutional investors are increasing their exposure to crypto all the time, bringing with them their institutional expertise, clout and capital.\u201d<\/p>\n

The deVere CEO concludes: \u201cFor the leader of the world\u2019s largest economy to want \u2018to go after\u2019 Bitcoin paints him as King Canute trying to turn back the tide.\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","protected":false},"excerpt":{"rendered":"

By George Prior Trump\u2019s reported instruction to the U.S Treasury Secretary to \u2018go after Bitcoin\u2019 highlights how \u201cbackward-looking and out-of-touch\u201d he is, says the CEO of one of the world\u2019s largest independent financial advisory and fintech organizations. The slamming indictment from Nigel Green, the chief executive and founder of deVere Group, follows revelations in the […]<\/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-172364","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/172364","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=172364"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/172364\/revisions"}],"predecessor-version":[{"id":172365,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/172364\/revisions\/172365"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=172364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=172364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=172364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}