The prediction from Nigel Green, the CEO and founder of deVere Group, comes as growing geopolitical uncertainty, including Brexit and the U.S. presidential election, and central banks’ historic money printing policies, amongst other issues, are prompting many investors to urgently rebalance their portfolios. He has commented that for thousands of years, gold has been the ultimate financial safe haven. Mr. Green has also expressed his belief that the precious metal will lose its crown as the most sought-after reserve asset to Bitcoin within a generation – particularly because the biggest-ever generational transfer of wealth – likely to be more than $60tn – from baby boomers to millennials is already underway. Mr Green continues: “Bitcoin’s key characteristics, such as its fixed supply and how transactions are immutable, distributed, non-sovereign and decentralized are highly attractive for investors in an uncertain but increasingly digitalized, tech-driven world. The deVere CEO concludes: “Until now, gold has been known as the ultimate safe-haven asset, but Bitcoin — which shares its key characteristics of being a store of value and scarcity — will take over. “As the world turns ever-more digital and is more and more financially dominated by those who have grown up surrounded by technology, from an investment point of view, gold will increasingly be seen as a relic of the past.” -Mr. Green concluded.
