Nigel Green shared his opinion on the current US banking crisis and noted that the situation will only favor Bitcoin & Ethereum.
In March 2023, Some of the popular US banks reported bad financial positions e.g Silvergate Bank, Silicon Valley Bank, Signature Bank, etc. These banks were crypto-friendly and that is why many crypto haters claimed that the crypto sector impacted the financial position of these banks. The US-based collapsed banks are under a lot of stress because they failed despite their exposure to the US economy, the world’s biggest economy.
Recently Nigel Green, CEO of deVere Group, shared his personal opinion on the current US banking crisis and noted that the situation acted as a catalyst to push Investors to move toward Bitcoin, a top crypto asset by market cap.
Nigel noted that the US banking crisis is not only an issue for US-based investors, but instead, global investors are also tense & looking for a safe place where they are finding Bitcoin as the best option.
According to deVere Group boss, the Fed will surely rescue all these banks and it will mint another big number of US dollar supply in circulation, which will further result in a negative impact on the strength of the US economy. In short, the US economy will face more inflation.
Further Green pointed attention to the COVID-19 pandemic in 2020, where people were under huge tension because of the uncertain economic situation. He noted that Bitcoin showed a better rally.
The current trade price of Bitcoin is $27,512 & this trade price is 63% high over the last 3 months of trade price.