Bitcoin

As the United States enters a new era of quantitative easing, investors are looking for alternatives like Bitcoin and cryptocurrencies, according to Nigel Green, CEO of the $12 billion financial advisory firm deVere Group.Green claims in a blog post that the actions taken by the U.S. Treasury following the collapse of Silicon Valley Bank represent a fresh round of money printing and financial stimulus, prompting investors to look for ways to protect their capital.Green highlights Bitcoin’s scarce supply of 21 million coins as one of the key features that makes it appealing in the current economic environment.The recent failure of Silicon Valley Bank and Signature Bank caused a spike in the price of bitcoin, the largest cryptocurrency in the world, as investors around the world sought safe haven in alternative currencies.The SVB rescue package is essentially a new type of quantitative easing (QE). This raises the amount of dollars in circulation, which may cause the value of the dollar to decline relative to other currencies as the increased supply may reduce its purchasing power.As a result, investors are compelled to look for alternatives like the scarce cryptocurrency Bitcoin.Green asserts that the global banking crisis is a historic turning point for the leading cryptocurrency asset and poses a serious threat to financial stability."We now predict the Fed will pause its aggressive rate-hiking agenda, which is bullish for Bitcoin, due to the impending threats to financial stability. Reduced interest rates make borrowing more affordable, which can increase investment and spending while also increasing demand for BTC as investors look for alternatives with higher return potential.In fact, the effects of the most recent banking crisis appear to be the starting point for a bigger goal for the biggest cryptocurrency in the world. It's a significant historical launching point.

$12,000,000,000 Asset Manager Says Investors Flocking to Bitcoin and Crypto Amid Global Banking Fallout

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