Billionaire Ray Dalio Reveals Bitcoin Stake But Warns Of Regulation Rocking Crypto Markets
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May 21, 2021
Cryptocurrency volatility is not necessarily a bad thing – but it could be if your investment decisions are driven by the whims of celebrities like Elon Musk.
This is the word from Nigel Green, chief executive and founder of deVere Group, as bitcoin, the biggest cryptocurrency by market capitalisation, regains some ground after falling to a four-month low.
The price of bitcoin dropped by nearly 30% on Wednesday from the day’s early highs, before clawing back losses of 8%.
The dramatic swings come as China warned about the usefulness of digital currencies, which subsequently prompted a tweet by Tesla founder Elon Musk indicating that his electric vehicle firm was continuing to hold bitcoin (it bought $1,5-billion of it earlier this year) for the long term and would not be selling its position.
Replacing the chief executive and founder who has left the UAE-based business
Greg Stockton has been hired to run financial advice firm Prosperity which is owned by deVere Group.
Stockton will report directly to deVere Group founder and chief executive Nigel Green.
International Adviser has contacted deVere Group to confirm Stockton’s job title.
He has worked in financial services for more than 17 years – of which 13 were with deVere, where he held senior positions in Hong Kong, Qatar and Cape Town.
Stockton was most recently commercial manager at Finsbury Associates, as well as commercial director for Blue Sky Thinking and, prior to that, managing director at Carrick Wealth.
Global finance advisor CEO questions what s really behind Musk s Bitcoin u-turn? Monday, 17 May 2021 22:42 Global finance advisor CEO questions what s really behind Musk s Bitcoin u-turn?
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Elon Musk s decision to banish bitcoin from being able to buy Teslas after investing billions in the cryptocurrency is puzzling financial analysts, with deVere Group CEO Nigel Green sharing his observations.
Elon Musk’s sudden u-turn regarding Bitcoin on Twitter - which sent prices plummeting by 15% - could be more of a PR stunt than anything else, says the CEO of one of the world’s largest independent financial and fintech organisations.
deVere Group CEO Nigel Green s observation came after Elon Musk said Tesla will halt sales of cars using Bitcoin due to the environmental impact of mining that cryptocurrency.
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