![\"Devere](\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/03\/nigel-green.jpg\")
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The CEO of Devere Group has predicted that the price of bitcoin will reach $50,000 by the end of this month. He explained that geopolitical tensions from the Russia-Ukraine war and institutional investment are key drivers boosting the price of bitcoin. He also said, \u201cthe dollar\u2019s reserve status could, ultimately, be in jeopardy.\u201d The CEO of Devere Group, Nigel Green, has predicted that bitcoin\u2019s price will reach $50,000 by the end of this month. Devere is an independent financial advisory and asset management firm headquartered in the UAE.<\/p>\n The executive said on Tuesday after the price of bitcoin surged more than $6,000 in 24 hours:<\/p>\n As it currently stands, I can see no reason why this price momentum should falter. I think we can expect to see bitcoin hit $50,000 by the end of this month.<\/p>\n<\/blockquote>\n However, he noted that it is \u201ctoo early to say\u201d when the price of bitcoin will revisit last year\u2019s all-time highs. Based on data from Bitcoin.com Markets, BTC<\/a> peaked at $68,892 on Nov. 9.<\/p>\n Green believes that \u201cIt\u2019s not that big a leap from $50K to $68K.\u201d He emphasized: \u201cThe world and the crypto market are moving at an accelerated rate in recent times. It\u2019s certainly not out of the realms of possibility.\u201d At the time of writing, bitcoin is trading at $39,007.<\/p>\n The Devere executive sees two key drivers boosting the price of bitcoin: geopolitical tensions and institutional investment.<\/p>\n He explained that the war between Russia and Ukraine \u201chas caused significant financial upheaval.\u201d It has driven individuals, businesses and government agencies globally to look for \u201calternatives to traditional systems,\u201d he detailed.<\/p>\n \u201cAs 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 weaponized, amongst other factors, the case for a viable, decentralized, borderless, tamper-proof, unconfiscatable monetary system has been laid bare,\u201d the chief executive further opined, elaborating:<\/p>\n And as alternatives, such as crypto, prove to be credible and workable, the dollar\u2019s reserve status could, ultimately, be in jeopardy.<\/p>\n<\/blockquote>\n \u201cSavvy investors know this and will be further increasing their exposure to cryptocurrencies before prices rise further,\u201d he predicted.<\/p>\n The Devere boss further predicted: \u201cAs more and more institutional investors take control of the sector, credibility increases, trading volumes go up and volatility goes down.\u201d<\/p>\n Emphasizing that the current Russia-Ukraine crisis has highlighted bitcoin\u2019s key traits, Green concluded:<\/p>\n 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.<\/p>\n<\/blockquote>\n Green is not the only one who sees a positive outlook for bitcoin. Veteran investor and fund manager Bill Miller said<\/a> this week that the situation in Russia is \u201cvery bullish for bitcoin.\u201d<\/p>\n
<\/strong><\/p>\nDevere\u2019s CEO on the Future of Bitcoin<\/h2>\n
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Geopolitical Tensions and Dollar\u2019s Reserve Status<\/h2>\n
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Institutional Investors to Boost Demand for Bitcoin<\/h2>\n
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