Digital Assets: Devere’s Nigel Green Says Bitcoin Would Be “Ultimate Safe Haven”

September 30, 2020 | Digital Assets, News
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Bitcoin will even overtake gold in the space of a generation.

Devere Group CEO Nigel Green was speaking at an interview with MoneyFM on the occasion of the launch of new crypto indices by the Singapore Exchange.

Green has been a perma-bull on cryptocurrencies, particularly bitcoin.

In the interview, he cited bitcoin’s growing rate of adoption. Also, its limited availability, similar to gold, and its popularity with younger people, could boost the value of bitcoin in the future.

He claimed bitcoin would be the ultimate safe haven – a generation down the line. (Bitcoin.com)

A new generation

“There’s a particular generation that is more trusting in gold, but then there’s another generation coming through,” Green said.

“It has become more and more apparent that it is, as younger people are more familiar with [bitcoin] and they trust in that world than perhaps other people,” he said, referring to whether bitcoin is being accepted in the digital world.

Dollars are just promises

Green said governments were flooding the market with fiat currency and had corrupted themselves as scorecard keepers of the money in the economy.

“If you are flooding the market with extra dollars, then in fact you are devaluing [money]. The advantage of bitcoin is that there is a limited amount. Some people would rather a computer keep score, and some people would not have faith in their government and they would rather have something where there’s a limited amount.”

Only a limited amount of bitcoin can be mined.

“Do we really think we will have Singapore dollars in our pocket or will we have digital currencies? I think we accept that ultimately it will be digital currencies,” Green said.

Besides, the convenience of digital cannot be ignored.

“It’s easier,” Green observed. “You can put [crypto assets] on your telephone, [opposed] to carrying some gold or storing gold,” he concluded.

Related Story:   Novogratz Prefers Bitcoin To Gold; Is Short On Stocks

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