The Bitcoin price is likely to hit $50,000 before the end of this month amid rising geopolitical tensions and growing institutional investments, predicts the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations.
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“As banks close, ATMs run out of money, threats of personal savings being taken to pay for war, and the major international payments system SWIFT is weaponised, amongst other factors, the case for a viable, decentralised, borderless, tamper-proof, unconfiscatable monetary system has been laid bare. “And as alternatives, such as crypto, prove to be credible and workable, the dollar’s Reserve Status could, ultimately, be in jeopardy. “Savvy investors know this and will be further increasing their exposure to cryptocurrencies before prices rise further.” He continues: “The appeal of global, digital currencies in our increasingly tech-driven world is, of course, not going unnoticed by institutional investors who include credit unions, banks, large funds such as a mutual or hedge fund, venture capital funds, insurance companies, and pension funds. “In fact, some reports say that institutions – who bring with them enormous capital, expertise and reputational influence – are now the dominant traders of cryptocurrencies. “As more and more institutional investors take control of the sector, credibility increases, trading volumes go up and volatility goes down – this is all good news for everyday investors.” Nigel Green concludes: “Developments in recent days have put a spotlight on Bitcoin’s key traits, which include being borderless, permissionless, censorship-resistant and unconfiscatable. “These inherent characteristics have enormous – and growing – value. “This is why Bitcoin is now the 14th most valuable currency in the world. I expect it to jump further still up the rankings in coming months.”