Nigel Green, founder and CEO of deVere Group, an independent financial advisory organization, is positive that cryptocurrencies are no longer marginal. Now, they are a part of the mainstream finance and it is impossible to overlook it.
In his article for Newsmax, he points out that DCs are capturing our attention and whether critics like it or not “major cryptocurrencies such as Bitcoin, Ethereum, XRP, Litecoin and Dash are being propelled into the conventional world of finance at breakneck speed.” He adds, “it is now undeniable, to my mind, that cryptocurrencies are the future of money.”
Green then appeals to the report which was recently released by The Financial Stability Board. In it, the authors conclude that DCs do not threaten the global financial system — a finding which clearly contradicts the perception which had been put forward by many finance traditionalists (and yes Warren Buffet and his “gang” is probably on the list). This is the first indicator of crypto becoming mainstream while the second one lies in the fact that BTC has risen in price for the first time in almost two months. Currently, it trades at $7,488.69 .
Thus, crypto is gaining prominence in the mainstream financial world. The fact that the FSB has recently sent a letter to the G20 finance ministers and central bank governors further shows BTC strength, as it now being accepted by major world players.
“The FSB report comes after an increasing number of global financial institutions, major corporations and household name investors are now using and investing in digital currencies and blockchain, and as crypto regulations across the globe are becoming more rigorous,” writes Green.
He then draws an example of how Steven Cohen invested into a hedge fund concentrating on cryptocurrencies and blockchain-based organizations. And mentions BlackRock Inc. which is eyeing the cryptomarket as well as Switzerland’s decision to launch an official crypto trading platform.
“Furthermore, the CFA Institute, whose demanding three-level program has helped train over 150,000 financial professionals, is including topics on cryptocurrencies and blockchain to its Level I and II curriculums for the first time in 2019,” emphasizes Green.
He also cites the results of a survey carried out in May by” deVere which revealed that 35 percent of high net worth individuals have already invested in or intend to make investments in cryptocurrencies before the end of the year.”
“Awareness of the value, need and demand for digital currencies in this fintech-driven era is soaring. Regardless of the viewpoint of traditionalist crypto cynics, the world of money has profoundly changed, and digital currencies are the future,” he concludes.
Green is not the only one who has been recently suggesting that cryptocurrencies are advancing. Hence, a trio of world establishments, including Big Innovation Centre, DAG Global and Deep Knowledge Analytics, have released a report that states the UK’s potential to become a world blockchain hub and underscores that crypto economy is the future. The research by the Imperial College London and eToro, which begs the question whether crypto will become mainstream in 10 years, and the fact that Goldman Sachs new CEO is a crypto enthusiast further elevates the community’s spirit.