The CEO of Devere explains why he is buying the Bitcoin dip.

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Last Updated on September 11, 2022 by Bitfinsider

Nigel Green, CEO of financial advisory and asset management firm Devere Group, has confirmed that he is purchasing the bitcoin dip. In a blog post published this week, the executive explained why he is buying more bitcoin during the crypto market downturn.

“The continuing strength of the US dollar, which is due to Federal Reserve policy tightening, is being felt by bitcoin and all other risk assets, as evidenced by the recent drop in global stock markets,”

Green then explained why he is purchasing more BTC. “One reason is that I’m ‘whale watching,'” he explained, adding that “whales are investors who are giant crypto holders, holding enough assets to move currency valuations.”

“In recent weeks, whales have been selling, which has the effect of lowering the market price as others get spooked and panic-sell,” he continued. This allows the big players to buy back more, and at a lower cost, in the future.”

“There is also noticeable whale activity going on.” “In the last 30 days, the number of new wallets holding 10,000 to 100,000 bitcoins has increased by 103,” he noted.

Green also mentioned the fundamentals of cryptocurrency as reasons to buy, emphasizing that the price drop represents a “key buying opportunity.”

“Like many major corporations, financial institutions, governments, prestigious universities, and household-name investing legends, I am confident that digital currencies are the unavoidable future of money,” he continued.

“It makes sense to hold digital, borderless, decentralized currencies in our increasingly tech-driven, globalized world,” Green opined. “Additionally, adoption and demand are increasing all the time, while supply is decreasing.”

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