By Andrei Skvarsky.
The CEO of financial advisory deVere has made a forceful case for bitcoin, calling the number one cryptocurrency “one of the best-performing asset classes of the decade” and hailing its stabilisation over the past several months as “crucial for its integration” into traditional financial systems.
While a disappointment for speculating investors, bitcoin’s stability “attracts institutional investors,” Nigel Green said in comments quoted in a statement by deVere, a global company with more than 80,000 clients and $12bn under advisement.
After a history of heavy fluctuations, bitcoin and other major cryptocurrencies have remained relatively stable in 2023. On August 24 bitcoin traded at around $26,000.
“Not only does Bitcoin remain one of the best-performing asset classes of the decade, I believe its performance will further strengthen. Both institutional and retail investors are increasingly seeing the value of a digital, global, borderless and tamper-proof currency and store of value,” Green said.
Earlier in August Green included bitcoin among areas in which he has been putting his money this summer, the statement said.
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