Bitcoin Price Drops, but deVere Group CEO Remains Bullish

Bitcoin (BTC) has seen a decline in recent days. However, according to Nigel Green, CEO of global financial advisory firm deVere Group, this is not a sign that Bitcoin’s bull market is over.

Citing crypto.news, Green remains optimistic that Bitcoin is still in a growth phase despite the recent price correction.

Bitcoin Price Decline Triggered by Trump’s Executive Order

Bitcoin's drop came after President Donald Trump issued an executive order to establish a strategic Bitcoin reserve. Initially, the decision was seen as a positive move for Bitcoin. However, many investors began selling their assets, causing a sharp price decline.

Green believes that the market’s reaction is overly hasty and could change over time. He also pointed out that Bitcoin investors are too focused on short-term movements, whereas in the broader picture, this decision actually solidifies Bitcoin’s geopolitical importance.

Bitcoin Gains Global Recognition as a Strategic Asset

Many analysts share Green’s view, suggesting that the U.S. government’s move could be a turning point for Bitcoin. The creation of a strategic reserve signals Bitcoin’s transition from a speculative asset to a legitimate financial instrument.

However, the initial market reaction was negative. Investors were disappointed that the U.S. government did not directly purchase large amounts of Bitcoin. This led to a market-wide sell-off, affecting not just Bitcoin but also altcoins like Solana (SOL), Ripple (XRP), and Cardano (ADA).

Other Countries May Follow America’s Lead

Despite the price drop, Green remains optimistic that other countries will follow the U.S. initiative. He believes that central banks and institutional investors will start considering Bitcoin as a reserve asset, similar to how they have traditionally relied on gold.

Long-Term Confidence in Bitcoin Remains Strong

Even with the current price correction, Green is confident that Bitcoin’s long-term trajectory remains bullish. He compared this moment to Tesla’s Bitcoin purchase and the launch of the first Bitcoin spot ETF, both of which significantly boosted the crypto market.

With the establishment of a strategic reserve, Bitcoin regulations are expected to become clearer and more investor-friendly.

At the time of writing, Bitcoin is trading at $78,426, reflecting a 6% drop in the past 24 hours. This decline coincides with a major sell-off in U.S. stock markets, where the S&P 500 and Dow Jones Industrial Average also suffered sharp losses due to rising economic uncertainty.

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