DeVere Group CEO Sold Half of Bitcoin Holdings at Christmas Highs - CoinDesk (coindesk.com)
Nigel Green, CEO of U.K.-based financial advisory firm deVere Group, has said he sold 50% of his bitcoin holdings over Christmas as the cryptocurrency’s price surged to new highs.

  • In a blog post late last week, Green said that as bitcoin (BTC, -2.47%) neared $25,000 per coin, he made the decision to sell half his holdings, explaining, "It's better to sell high and re-buy in the dips."
  • "The steady gains in the price of bitcoin has made the digital currency the top-performing asset of 2020, up over 200%. As such, I felt the time was right for profit-taking," he said.
  • The CEO stressed that his decision to sell was "not due to a lack of belief in bitcoin, or the concept of digital currencies."
  • "I believe that the future of money is cryptocurrencies," he wrote, adding that the longer-term price trajectory for bitcoin is "undoubtedly upwards."
  • DeVere Group estimates that nearly three-quarters of high-net-worth individuals will be invested in cryptocurrencies before the end of 2022, according to the post.

UPDATE (Jan. 4, 12:10 UTC): Corrected article to reflect that Green sold the bitcoin at around $25,000 at Christmas, not at the more recent all-time high above $34,000.

Read more: DeVere Group Targets Arbitrage With New Crypto Fund
    • 1
    Francisco Gimeno - BC Analyst Crypto being treated as tradicional investing. Sell when high and buy when low. No issue here. We will see more of this, as institutional money is pouring into this sector which is becoming mainstream. Tokenisation is the future, and people turning into crypto holders is just the beginning.