Devere CEO Explains Why He’s Buying Bitcoin Dip – Markets and Prices Bitcoin News

Devere CEO Explains Why He’s Buying Bitcoin Dip – Markets and Prices Bitcoin News

The CEO of the Devere Group, a financial advisory and asset management firm, shared several reasons why he is buying the bitcoin dip. “Despite the recent turbulence, I believe the trajectory for Bitcoin and other major cryptocurrencies is up,” he said.

Nigel Green explains why he buys more bitcoins

The CEO of financial advisory and asset management firm Devere Group, Nigel Green, has confirmed that he is buying the bitcoin dip. In a blog post published this week, the CEO outlined various reasons why he is buying more bitcoin amid the crypto market selloff.

“The continued strength of the US dollar, which is due to the tightening of Federal Reserve policy, is being felt by Bitcoin and all other risk assets, as we have seen in the recent decline in global stock markets,” he began, adding:

But like many serious crypto investors, I buy the dip. I accept this short-term volatility for long-term gains.

Green went on to share why he buys more BTC. “One of the reasons is that I ‘watch the whales,'” he revealed, noting that “whales are investors who are huge holders of cryptocurrencies, who own enough assets to have the potential to move currency values.”

He continued: “In recent weeks, whales have been selling, causing the market price to drop as others get scared and panic sell. That then allows the big players to buy more and cheaper down the line.”

CEO Devere said:

I sense they are getting ready to take steps to buy and top up their funds in the coming weeks.

“Also, there are other notable whale activities. The number of new wallets containing between 10,000 and 100,000 bitcoins jumped by 103 in the last 30 days,” he pointed out.

Green also listed cryptocurrency fundamentals among the reasons to buy, noting that the price drop is a “key buying opportunity.”

He added: “Like many large corporations, financial institutions, governments, prestigious universities and household investment legends, I am convinced that digital currencies are the inevitable future of money.”

“In our increasingly technology-driven globalized world, it makes sense to hold digital, borderless, decentralized currencies,” Green believes. “Furthermore, adoption and demand are steadily increasing, while at the same time supply is shrinking.”

The executive director of Devere Group concluded:

Despite the recent turbulence, I believe the trajectory of Bitcoin and other major cryptocurrencies is up. That’s why I look at the current decline as a discount.

Green has made some bullish predictions about the price of Bitcoin on several occasions. In June, he predicted a bull run and “a significant jump” for BTC.

Do you agree with Devereux CEO Nigel Green? Let us know in the comments section below.

Devere CEO Explains Why He’s Buying Bitcoin Dip – Markets and Prices Bitcoin News

Kevin Helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.




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