A recent transaction in professional soccer further supports cryptocurrency’s bright future, deVere Group CEO Nigel Green said recently.
Green spoke shortly after the announcement global soccer legend Lionel Messi will be partially paid in cryptocurrency following his move to French soccer club Paris Saint-Germain (PSG).
“PSG only disclosed that the actual amount in fan token is ‘significant’, but media reports are estimating that the amount could be between 25 to 30 million euros,” Green said. “Paying one of the world’s biggest footballers in crypto, once again highlights that cryptocurrencies are now almost universally recognized as the future of money. Digital, borderless money in our increasingly digitalized world makes sense, especially at a time when traditional currencies have been devalued by governments printing unprecedented amounts of them.”
Demographics are also on crypto’s side, Green added. Millennials are acclimatized to the technology and are beginning to see the largest transfer of wealth, estimated to be as high as $60 trillion-plus, in history.
“They are digital natives,” Green said. “Cryptocurrencies are, by their very nature, tech-driven and their long-term trajectory is secure.”
But digital assets are more than a form of payment and a store of value in the usual sense. Green also believes increasingly they will be used by businesses to raise capital.
“Messi is being paid a large chunk of his salary in the club’s own digital asset, the $PSG Fan Token,” Green added. “Manchester City launched its own fan token in March using the same technology. They are doing this as a way to drive interest and investment into the clubs. We can expect a growing number of companies to harness the enormous potential of cryptocurrencies and blockchain technologies.”
Green said more companies could issue cryptocurrencies as a way to raise capital, which he said is a cost-effective way to do so.
“Those who do not see digital assets as the future for money, investments and raising capital are, I believe, already considerably behind the curve,” Green concluded.
