Nigel Green, CEO of Dubai-based investment consultancy company deVere Group, spoke about the banking crisis that started in the United States and affected European countries. The boss of the company, which manages the 12 billion dollar investment, expressed his opinion that the crisis will benefit cryptocurrencies and Bitcoin.
DeVere Group CEO, in his blog post, said that as a result of the USA’s monetary expansion again, investors will bitcoin He predicted that his interest in limited assets such as The U.S. Treasury Department had promised to pay for unsecured deposits after Silicon Valley Bank went bankrupt.
“Signature and Silicon Valley Bank, which went bankrupt in America, had a positive impact on cryptocurrencies. After the news, the BTC price fell in the short term, but reached higher levels.”
Why Will People Want to Buy Bitcoin?
The famous investment expert classified the reasons why people would flock to Bitcoin after the bankruptcy of crypto-linked banks, based on the money supply. Green emphasized that the government has increased the amount of dollars in circulation again due to the guarantee it gives to deposits.
When we look at the current asset table of the FED, Nigel Green’s words are better understood. While the US Federal Reserve narrowed its assets for months in line with its tight monetary policy, it expanded again due to the crisis.
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