“Alarmist sellers give their bitcoins to the rich” – President of Devere Group

Briefly:

  • Devere Group CEO Nigel Greene criticized panicky bitcoin sellers
  • In his opinion, this will make the big players even richer
  • The financier considers Bitcoin to be digital gold and the best cure for inflation

Nigel Green, founder and CEO of the consulting firm Devere Group, gave his assessment of alarmist traders. He believes their behavior will make the big shoppers even richer.

According to Green, sellers “practically give” their cryptocurrencies to large investors. And those, in turn, are saving BTC to hedge against inflation.

Here is a fragment of Green’s statement on the official website of the Devere Group:

“Wealthy, long-term cryptocurrency investors are taking advantage of panic. They buy digital assets at low prices to strengthen their investment portfolios. ”

Devere Group is an independent financial advisor with offices around the world. The company holds assets worth more than 20 billion dollars.

Who has already bought bitcoins

Cryptocurrency markets have plummeted in recent weeks. Bitcoin has fallen in price by 47% , after the record 82 thousand dollars it is trading at the level of The crisis has begun 22 November, as many traders left the market due to uncertainty about US policy, as well as the global economic crisis.

But when the market cleared of “weak hands”, smart and influential traders. Here is a list of the most recent big deals:

  • Billionaire Su Zhu of Singapore-based hedge fund Three Arrows Capital has acquired more than 591 million dollars.
  • TRON crypto platform founder Justin Sun spent over $ 7 million on BTC.
  • Michael Saylor’s Microstrategy bought extra BTC for 69, $ 4 million.
  • Even some countries did not stand aside – for example, El Salvador bought “at a discount” about 220 BTC.

Green believes that large companies are buying BTC to get rid of the “extra” fiat currency. This scenario seems particularly plausible right now, with inflation sweeping across all countries. Cash loses its purchasing power, so big business invests in a long-term asset – “digital gold,” as bitcoin is now called.

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