Nigel Green, CEO of financial advisory and asset management firm Devere Group, has confirmed that he is buying Bitcoin on the dip.
In an article published this week, the executive outlined his various reasons for buying more Bitcoin amid the crypto market sell-off.
One reason is that whales are investors in large numbers of cryptocurrencies, and they hold enough assets to potentially change currency valuations. Whales have been selling in recent weeks, which lowers market prices as others get spooked and panic-sold. I get the feeling that they are preparing to take action to buy and replenish their assets in the coming weeks.
He added: Like many large corporations, financial institutions, governments, prestigious universities and household investment legends, I believe that digital currencies are the inevitable future of money. In our increasingly technology-driven globalized world, it makes sense to hold a digital, borderless, decentralized currency, Green believes.
Furthermore, adoption and demand have been increasing, while at the same time, supply has been decreasing.