Nigel Green, the Chief Executive Officer of deVere Group has explained how institutional investors such as Tesla’s Elon Musk and Twitter’s Jack Dorsey interest in Bitcoin will permanently hike the price.
According to Green, Bitcoin has been on an epic rally since last October owing to the momentum that came from investors who are looking for alternatives to traditional currencies as central banks and governments continue to helicopter new cash into economies.
“As Wall Street giants increasingly pursue crypto activities and as billionaire entrepreneurs such as Tesla’s Elon Musk and Twitter’s Jack Dorsey pile into the cryptocurrency, Bitcoin prices will continue to surge,” said the CEO of one of the world’s largest independent financial advisory and fintech organisations.
He added that the hype in the media and massive interest amongst retail investors, who are keener than ever to invest in digital currencies, dubbed ‘the future of money.
Bitcoin’s recent consolidation is sitting around $55,000. It also hit an all-time price high earlier this month of more than $61,000.