Union Budget 2022-23: Cryptocurrency will support India’s financial inclusion goals and also lower the cost and the speed of transactions all over the globe
Indian Union Budget 2022: New investors need guidance to invest in cryptocurrencies
India’s crypto market has been increasing over the last few years. According to a Nasscom report, it is expected to touch $241 million by 2030. With the current trends, more Indians and investors are expected to join the crypto revolution across all demographics. India is a country with diversified financial needs and having a cryptocurrency will promote the underlying benefits of this technology.
The Crypto world has immense headroom to grow, and as access to new innovative investment opportunities emerges, it is expected to see a massive inflow of capital in this ecosystem. The COVID-19 pandemic uncertainties have granted significant attention to cryptocurrency, bitcoin, blockchain in India and across the world. Many started seeing digital currency as the future of finance.
Gold, oil, and stocks were the major asset classes, but after the 2008 recession, the investors lost trust in these asset classes and Crypto appeared as a new trend. As far as the investors are concerned, a new type of ‘diversifiers’ has emerged in the last 18 months who are now increasing their exposure to new asset classes like cryptocurrencies. When Elon Musk, CEO of Tesla and SpaceX, announced that he had bought dogecoin for his newborn son with Canadian musician Grimes, Dogecoin cryptocurrency had skyrocketed its value as it soared up by 16 percent.
The perspective of day-to-day financial dealings is changing with a strong push for private currency to cryptocurrency. Cryptocurrency…
