Nigel Green, the Managing Director of the DeVere Group, a financial advisory undertaking that is headquartered in the United Kingdom revealed that he had parted ways with about half of his BTC reserve late last year during the Christmas jubilee when the leading currency was in a high frenzy.
He declared this via a blog post towards the end of last week. According to him:
“It’s better to sell high and re-buy in the dips”
“The steady gains in the price of bitcoin has made the digital currency the top-performing asset of 2020, up over 200%. As such, I felt the time was right for profit-taking”
This is what informed Green’s move to sell about 50% of his bitcoin (BTC, -1.11%) holdings when the leading currency danced at about $25,000 per coin.
He emphasized that this move was not based on a
” lack of belief in bitcoin, or the concept of digital currencies.”
He made it a point that:
“I believe that the future of money is cryptocurrencies,”
For him, he sees BTC scaling “undoubtedly upwards.”
The Financial Advisory undertaking that Green manages has projected that about three-quarters of high-net-worth individuals will have stashed their monies in cryptocurrencies before the end of 2022,
Latest Episode on Inside Blockchain
Crypto News Update
How To Open a Huobi Account and Make Your First Trade.
Huobi is a crypto exchange where users can buy, sell and borrow cryptocurrencies, creating a complete ecosystem for knowledgeable crypto...
Gala FIlms: Web3 meets Films
Gala Film Nodes are services provided by the Gala team where anyone can purchase a Node to grant access to...
List of African Countries That Have and Will Launch CBDC
African countries are exploring the virtual form of their currency which can improve their approach to exchanges and cash flow...
A comparison of Aptos and Sui
Last year, functional Layer 1s had great fundamentals that facilitated ecosystem pumps. The pumps were associated with L1s that had...
A detailed insight into Nomad bridge protocol exploit
The Nomad bridge was recently exploited for over $190m. While the complete story of the hack keeps unfolding gradually, we...