'I think we can expect to see bitcoin hit $50,000 by the end of this month,' said the CEO. crypto cryptocurrency $BTC
He explained that geopolitical tensions from the Russia-Ukraine war and institutional investment are key drivers boosting the price of bitcoin. He also said, “the dollar’s reserve status could, ultimately, be in jeopardy.”The CEO of Devere Group, Nigel Green, has predicted that bitcoin’s price will reach $50,000 by the end of this month. Devere is an independent financial advisory and asset management firm headquartered in the UAE.
He explained that the war between Russia and Ukraine “has caused significant financial upheaval.” It has driven individuals, businesses and government agencies globally to look for “alternatives to traditional systems,” he detailed. And as alternatives, such as crypto, prove to be credible and workable, the dollar’s reserve status could, ultimately, be in jeopardy.
Emphasizing that the current Russia-Ukraine crisis has highlighted bitcoin’s key traits, Green concluded:
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