- Nigel Green believes the Ukraine crisis and institutional investor interest could spark a significant price rise
- He says recent events have highlighted Bitcoin’s defining characteristics
Since reaching its all-time high, Bitcoin has become synonymous with volatility, but Nigel Green, CEO of financial services firm deVere Group, believes the cryptocurrency is poised to climb further in the coming months from its current position as the 14th most valuable currency in the world.
Based on current momentum, Green has predicted that Bitcoin could reach $50,000 before the end of March. He pointed to the crisis in Ukraine and a growing appetite among institutional investors as key drivers likely to sustain upward pressure on the price.
Green argues that these developments have underscored Bitcoin’s core qualities — “borderless, permissionless, censorship-resistant and unconfiscatable.”
He remained cautious about forecasting a return to the record high of around $68,000 seen last November but did not dismiss the possibility.
“It’s not that big a leap from $50k to $68k and the world and the crypto market are moving at an accelerated rate in recent times. It’s certainly not out of the realms of possibility,” he said.
An alternative is needed, and crypto could be it
On Bitcoin’s potential role, the deVere Group founder explained that the situation in Ukraine has disrupted financial systems not only in Ukraine and Russia but across other regions as well.
He noted that investors and even government entities are searching for alternatives, and cryptocurrencies may fit that need.
“As banks close, ATMs run out of cash, threats emerge that personal savings could be seized to fund war efforts, and major international payment infrastructure like SWIFT is weaponised, among other factors, the case for a viable, decentralised, borderless, tamper-proof, unconfiscatable monetary system has been laid bare,” Green said.
Institutional investors are also moving in
Green also highlighted the growing role of institutional investors in driving future growth.
Pointing to the rising appeal of global digital currencies, he said institutional participation is becoming more prominent in the crypto space. Their involvement, he argued, should bring greater stability to crypto markets.
“As more and more institutional investors take control of the sector, credibility increases, trading volumes go up and volatility goes down — this is all good news for everyday investors,” he added.