The chief executive of financial advisory giant deVere Group says that the adoption of one particular asset class will increase demand for both Bitcoin (BTC) and Ethereum (ETH).
In a new video update, deVere Group CEO Nigel Green tells his 115,000 YouTube subscribers that stablecoins, or fiat-pegged digital assets, could save the US economy and reinvigorate demand for the top two crypto assets by market cap.
[adinserter block="1"]According to Green, stablecoins can help keep US interest rates lower, boosting money circulation in the economy.
“Stablecoins are virtually instant – in other words, it means you can transfer inexpensively and very quickly. It’s good for banks, it’s good for individuals. Really, it’s a revolution.”
The executive goes on to say that if the US can successfully create policies that boost dollar-pegged stablecoins, it would increase the rate at which people are buying US Treasury bills with fixed rates, which would drive down interest rates and increase demand for tech stocks, BTC and ETH.
“It’s in America’s interest to try and drive down interest rates. [They are] pushing hard on producing stablecoins… Trump has his own family venture which is going to be launching stablecoins. JPMorgan, PayPal, you’ve got many many different [firms], including Fidelity, that are producing or have produced stablecoins.
Okay, it’s the future. So then if we take that as the future, what else does it mean? Well, we live in a digital world already. So obviously there are some stocks that gain in the digital world. They’re fairly obvious – the ones that are in the tech industry will gain. If payments are faster, easier to be paid, then they gain.
But also at the same time, not only does this create more innovation, it means that we’re in a world where people will buy more Bitcoin, use more Ethereum. In general, stablecoins [will] actually settle in Ethereum [and] drive the price up.”
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