deVere Crypto adds Dogecoin amid all-time high due to 'The Elon Effect'

Dogecoin has been added to the cryptocurrency app of one of the world’s largest independent financial advisory and fintech organisations as celebrity interest soars, driving the price by more than 55%.

deVere Group on Monday confirmed Dogecoin (DOGE) has been launched on deVere Crypto joining the likes of other major digital currencies including Bitcoin, Ethereum, Dash, Bitcoin Cash and XRP.

Nigel Green, chief executive and founder of deVere Group, which has $12bn under advisement, says: “The price of Dogecoin has hit its all-time high, jumping four places in terms of the most-valuable cryptocurrencies to number 7.

“Its skyrocketing price is down to The Elon Effect.

“Last week, Elon Musk, the boss of Tesla and the world’s richest person, endorsed Dogecoin on Twitter.

“It stoked enormous interest across the globe, leading to other celebrities such as American rapper Snoop Dogg and Kiss rock star Gene Simmons backing the cryptocurrency.

“Thanks to massive retail investor interest DOGE is now up more than 1,380% year-to-date.”

Previously, Tweets by Musk have fuelled the Bitcoin price.

He continues: “We’re committed to expanding our suite of carefully analysed cryptocurrencies as clients are increasingly demanding a truly diversified crypto portfolio as the sector continues to grow and moves ever more into mainstream finance.

“Whilst it remains the dominant digital currency, with currently about 60% of the total market capitalisation, there is much more to the crypto-verse than just Bitcoin.

“Each different cryptocurrency offers unique properties, strengths and uses for investors, so we are delighted that deVere Crypto users can now also buy, sell, and trade DOGE alongside the others.”

Since the launch of the app, the deVere boss has been an internationally high-profile cryptocurrency advocate. He is often quoted in the media as saying that he believes crypto is “the future of money.”

He recently noted: “It is a burgeoning asset class and it’s one that is set to play a larger and larger role within the global financial system.

“In today’s digitalised, globalised world, the demand for digital, global currencies in some form – is only set to grow.

“From now on, there will always be widely-used non-fiat money.”

Mr Green concludes: “As the crypto market grows and matures, we will continue to add expert-assessed digital currencies to ensure clients have access to the opportunities that are on offer.

“A properly diversified investment portfolio needs to represent the future, not the past. And without question, cryptocurrencies are in some form the future of money.”

About deVere Group

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients.  It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.

Publication date: 
02/09/2021 - 19:00

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