Nigel Green: IMF Is On The ‘Wrong Side Of History’ – Future of Money Is Digital
Nigel Green, the Chief Executive of deVere Group, questions IMF stance on digital assets. He also said that future of money is digital, which has led to capital inflow increase to crypto from institutional investors.
Talking about the International Monetary Fund’s (IMF) criticizing El Salvador’s Bitcoin legal tender, Green opined that the IMF is on the “wrong side of history.”
“But the IMF asking a pioneering sovereign nation to drop a future-focused financial policy that attempts to bring it out of financial instability and reliance on another country’s currency shows the institution to be on the wrong side of history.
Is the IMF scared of the future of finance? Why do they continue to want to pile on debts to poorer countries that they know are unlikely to be able to repay using traditional currencies? Is the IMF worried about the domino effect of nation-state adoption that might weaken their dominant global influence? If so, is this a warning shot to those countries?”
The deVere Group CEO believes that digital is the future of money, which is why institutional investors are getting more and more involved in Bitcoin and other crypto assets.
“This is why more and more institutional investors, household name investors, Wall Street giants and multinational corporations are all sensibly, increasing their exposure to crypto and bringing with them capital, reputational clout and expertise.
They understand and value the key characteristics of Bitcoin and cryptocurrencies are designed for this century and, therefore, are growing in appeal.”
Green went on to list Bitcoin and other digital asset features, that make them more preferable for the changing digital world.
“These [features] include that they’re borderless, making them perfectly suited to a globalized world of commerce, trade, and people; that they are digital, making them an ideal match to the increasing digitalization of our world; and that demographics are on the side of cryptocurrencies as younger people are more likely to embrace them than older generations.”
