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deVere CEO Nigel Green says institutional investors understand the value of cryptocurrency’s future-focused technology.
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He says crypto is the inevitable future of money and wonders why the IMF is pressuring El Salvador into dropping Bitcoin as legal tender.
Institutional investors have increasingly looked to add to their crypto exposure because they understand that digital currencies are the “inevitable future of money,” says deVere Group chief executive officer Nigel Green.
According to him, this understanding is one of the reasons that Wall Street giants and other institutional investors across the world are “sensibly increasing their exposure.”
He believes that crypto’s appeal is the reason why many household investors and large multinational corporations invest in it. This is why many mainstream companies have added digital assets and are investing in the industry to grow.
“ They understand and value the key features of Bitcoin and cryptocurrency are designed for this century.
Commenting upon some of the key characteristics that make crypto attractive to be the money of the 21st century, the deVere chief highlighted their digital and borderless nature. This makes crypto ideal for international commerce and trade in an era of increasing digitalisation.
Green noted that younger generations are more likely than older generations to embrace Bitcoin and other cryptocurrency-assets, which he believes is a positive for cryptocurrency.
The IMF is “wrong” on El Salvador Bitcoin demand
Green also criticised the International Monetary Fund, which recently asked El Salvador to withdraw Bitcoin from its legal tender.
He stated that the IMF’s decision places the institution on the “wrong Side of History ,” by asking a sovereign country to drop Bitcoin, while insisting it still rely on another currency.
According to him, El Salvador’s adoption Bitcoin as a legal tender indicates that the country wants to use “future-focused” financial policy to overcome financial instability and overreliance upon the US dollar.
Green wonders if Washington DC-based financial institution is worried about the future of finance .”
in light of the IMF’s appeal to El Salvador.
Baffling for IMF not to see Bitcoin’s value
Crypto was highlighted as a tool which could allow financial inclusion and freedom to seep into every sector and aspect of society. As the IMF has acknowledged in recent discussions with El Salvador, Green said that while Bitcoin demand is dropping, it is still “baffling”. “
“ Why do they want to continue to accumulate debts to poorer nations that they know they won’t be able repay with traditional currencies? Is the IMF concerned about the domino effect of country-state adoption, which might weaken their global power? “, he thought.
He points out that, as bizarre as the IMF request for the central American country may be, Green views its response as a “warning shot”, to other countries.
Green believes institutions like the IMF should work with developing nations to find ways to get out of debt.
He says this would be possible with future-focused policies as “past methods, clearly, haven’t been as successful as they should have been.”
The CEO of deVere notes that El Salvador’s situation needs to be closely monitored in order for the country’s Bitcoin move to benefit its citizens.