Bitcoin Price Predicted to Reach $100,000 by deVere Group CEO Nigel Green: Here’s the Reason

The CEO of financial services firm deVere Group, Nigel Green, is foreseeing a significant surge for Bitcoin (BTC) in the near future, with projections indicating that it could reach the six-figure mark. Green shared his insights in a recent video update, suggesting that Bitcoin might hit $100,000 by the conclusion of 2024, representing a substantial increase of over 52% from its current value, primarily driven by escalating demand.

Describing Bitcoin as a potentially top-performing asset in the coming months, Green highlighted the limited supply of Bitcoin as a key factor influencing its price trajectory. With only 21 million Bitcoins available, the increasing demand for the cryptocurrency is expected to propel its value upwards. This stands in contrast to traditional currencies like the US dollar, which can be subject to inflation through increased printing, or stocks that are influenced by changing market sentiments and profit expectations.

Green also pointed out potential bullish catalysts for Bitcoin, including the potential impact of the US presidential election, particularly if Donald Trump secures a return to office. Trump has expressed support for Bitcoin and other digital currencies, likening Bitcoin to digital gold and emphasizing the importance of the United States establishing itself as a hub for the crypto industry.

Moreover, Green highlighted the growing interest in spot Bitcoin exchange-traded funds (ETFs) as another factor that could drive Bitcoin’s value higher. Notably, investment giant BlackRock has already invested $1 billion in Bitcoin for its ETF, signaling confidence in the cryptocurrency’s future performance. Additionally, global uncertainties further contribute to the appeal of Bitcoin as a hedge against economic instability, attracting more investors to the digital asset.

As of the latest update, Bitcoin is trading at $65,754, reflecting a 3.5% increase in value over the past 24 hours. With various factors aligning to support its upward trajectory, including increasing demand, potential ETF investments, and global economic uncertainties, Bitcoin continues to attract attention as a lucrative investment option in the evolving financial landscape.