$12,000,000,000 Asset Manager Says Investors Flocking to Bitcoin and Crypto Amid Global Banking Fallout
The CEO of the $12 billion financial advisory firm deVere Group, Nigel Green, says investors are seeking alternatives like Bitcoin and crypto as the U.S. enters a new era of quantitative easing.
In a blog post, Green says the U.S. Treasury’s actions after the fall of Silicon Valley Bank represent a new wave of money printing and financial stimulus that has investors looking at ways to preserve their capital.
Green highlights Bitcoin’s scarce supply of 21 million coins as one of the key features that makes it appealing in the current economic environment.
“Bitcoin surged in price following the recent collapse of Silicon Valley Bank and Signature Bank, with the banking crisis acting as a springboard event for the world’s largest cryptocurrency, as global investors seek safe haven, alternative currencies…
In essence, the SVB rescue package is a new form of quantitative easing (QE). This increases the dollar supply in circulation, which can lead to a fall in the value of the greenback compared to other currencies, as the increased supply can diminish its purchasing power.
Consequently, this drives investors to seek alternatives such as Bitcoin, which has a limited supply.”
According to Green, the global banking crisis poses a major threat to financial stability and represents a historic moment for the flagship crypto asset.
“Due to the imminent financial stability risks, we now forecast the Fed will pause its aggressive rate-hiking agenda, which is bullish for Bitcoin. Reduced interest rates make borrowing cheaper, which can lead to a hike in spending and investment, as well as higher demand for BTC as investors seek alternatives with the potential for higher returns.
Indeed, the fallout from this latest banking crisis seems to serve as a launching point for a larger objective for the world’s largest crypto. It’s a historical springboard event.”
You can check out Green’s full post here.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/solarseven/Sensvector
The post $12,000,000,000 Asset Manager Says Investors Flocking to Bitcoin and Crypto Amid Global Banking Fallout appeared first on The Daily Hodl.
Go to Source
Author: Daily Hodl Staff
