Facebook’s move to relax its ban on crypto-related ads will spark the next bull run, founder and CEO of deVere Group Nigel Green has claimed.
Calling it the next step in “the unstoppable cryptocurrency revolution,” Green explained that the social media giant’s ban was symptomatic of a larger, unhelpful attitude towards innovation.
He said: “The lifting of this controversial ban must be welcomed. Whilst we respect Facebook’s good intentions behind prohibiting the adverts, an outright ban on new concepts and innovation is seldom a positive or helpful stance. With the social media giant taking this proactive step, which is fuelling global speculation that it could now also have its own crypto ambitions, I believe history will show that this decision to lift the ban will prove to be another catalyst for the unstoppable cryptocurrency revolution.”
The move could help Bitcoin and other coins to bounce back, he continued, encouraging investors to think more long-term.
“The crypto market has been in bear territory over the last week or so,” he added. “Facebook’s step can be expected to help take it back towards the bulls… savvy investors are looking at the bigger picture. For instance, Bitcoin, the flagship cryptocurrency, is still 140 per cent higher than this time last year.”