Cryptocurrencies: buying opportunities after Brexit?
Crypto

Cryptocurrencies: buying opportunities after Brexit?

By Marco Cavicchioli - 18 Sep 2019

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In the aftermath of Brexit, there may be a number of buying opportunities in the field, both in traditional finance and in the cryptocurrency space.

For example, according to Jonathan Gray, President of the Blackstone Group investment company, Brexit has transformed the UK into a developed economy with the best buying opportunities

This was revealed by Bloomberg, who also reports that Blackstone made good-priced purchases because other investors were sceptical about the country’s economic growth. 

Gray himself told the company’s board of directors at a meeting held yesterday in Los Angeles, citing as an example Blackstone’s 2018 agreement to purchase the property portfolio from Network Rail Infrastructure, calling it a long-term bet on British commercial real estate.

According to Gray, these opportunities were created by uncertainties surrounding Britain’s expected exit from the European Union. 

“It’s not just about what’s coming, it’s about the price I have to pay for it. We feel like you’re getting compensated”.

Cryptocurrencies after Brexit

By shifting the focus to the crypto market, other sources reveal that there may be some kind of correlation. 

A few days ago, the British newspaper Independent hypothesised that the same economic and geopolitical uncertainty linked to the unclear situation in which the operations for Brexit are taking place would have influenced some increases in the values of bitcoin, ethereum, ripple and bitcoin cash. 

In particular, the Independent’s hypothesis is that when the disturbances around Brexit cause uncertainties, this could positively affect the value of bitcoin and other cryptocurrencies. 

Moreover, the same article also mentions the prospect that an economically damaging Brexit for Europe, together with the consequent increase in commercial tariffs, will contribute to a recovery in the price of bitcoin.

The CEO of the blockchain company CommerceBlock, Nicholas Gregory, said: 

“A no-deal Brexit could see a massive and unprecedented breakout.

Not only will a no-deal departure from the EU create turmoil and volatility across two major fiat currencies, it will also trigger an identity crisis for the global system as the contingency and vulnerability of major global fiat currencies is laid bare”.

Marco Cavicchioli
Marco Cavicchioli

Class 1975, Marco teaches web-technologies and is an online writer specializing in cryptocurrencies. He founded ilBitcoin.news, and his YouTube channel has more than 11 thousand subscribers.

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