Bitcoin’s New $ 67,000 Record Highlights Dominant Value, Says deVere CEO

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Bitcoin is undeniably a mainstream asset class and most investors should consider including crypto assets as part of a diversified portfolio, says an industry insider.

The bullish observation from Nigel Green, CEO and founder of deVere Group, which has $ 12 billion under advisement, comes as the world’s dominant cryptocurrency hits a new record high of over $ 67,000 on Wednesday.

Green Notes: “In July, we publicly predicted that Bitcoin would most likely reach and break its previous all-time highs.

“I am convinced that while there may be some short-term profit taking, so that investors can accumulate more later, the momentum is such that we can expect prices to continue on their upward trajectory. . “

He continues, “This new all-time high unmistakably cements Bitcoin as a mainstream asset class. I think most investors should consider including crypto assets as part of a diversified portfolio.

“Why? Because crypto is the inevitable future of money, and there will clearly be benefits for investors who have early exposure – similarly to those who have invested in big Internet hits, in online and tech at the time, like Amazon, Google, and Apple got huge returns.

Wednesday’s highest prices come as the ProShares Bitcoin Strategy ETF – the first of its kind – launched on the New York Stock Exchange on Tuesday at the opening bell.

Five factors

The CEO of deVere says there are five main factors that will secure the long-term price rise path.

“First of all, the US Federal Reserve says it has no plans to ban cryptocurrencies. It is highly likely that other cryptocurrencies will have stricter regulatory oversight, but Bitcoin could be viewed differently by authorities in part due to its gold-like status, ”he observes.

“Second, there is the growing and continuing interest from institutional investors, including the Wall Street giants and large payment companies, who bring their capital, expertise and influence to the market.

“Third, the growing number of crypto advocates and mega influencers like Elon Musk, Jack Dorsey and Cathie Wood who have a clear message: crypto is the inevitable future of money.”

Fourth, the techniques support the prediction. Looking at Bitcoin halving events, over time we found that values ​​increased significantly in the year following a halving. After Bitcoin halved in 2012 and 2016, prices rose 55 times and 15 times respectively.

“And fifth, cryptocurrencies – Bitcoin in particular – have changed the way the world handles money, does business, conducts transactions and manages assets. Investors appreciate the intrinsic value of digital, borderless, global currencies for trade and commerce in increasingly digital economies in which businesses operate in more than one jurisdiction. “

He goes on to say, “This will only increase as global mass adoption increases. Just last month, El Salvador became the first country in the world to adopt Bitcoin as legal tender, and I’m sure many more will follow.

Green concluded: “Today is a milestone. It underscores the dominating appeal of crypto and galvanizes its place in the global financial system. “

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