- The Bitcoin call cap has touched$2.5 trillion amid its rising adoption globally
- up to$ 241 million by 2030 in India and$2.3 billion by 2026 worldwide.
- 15 million retail investors in India investing in the crypto tech space
Also read—Revised Travel Advisory for Foreign Visitors
21 October 2021
-Despite uncertainties and high volatility surrounding it, Bitcoin has crossed$ per coin for the first time and according to assiduity experts, the most sought-after cryptocurrency may touch the$ mark by the end of this year. The Bitcoin call cap has touched$2.5 trillion amid its rising adoption globally, particularly in India. According to Nigel Gree, CEO and founder of deVere Group which has$ 12 billion under management, Bitcoin is undeniably a mainstream asset class and most investors should consider including crypto assets as part of a diversified portfolio. “ In July, we publicly predicted that Bitcoin would reach and most likely beat its previous all-time highs.
I’m confident that while there might be some profit-taking in the near-term so that investors can accumulate more later, the momentum is such that we can expect prices to continue on their upward trajectory,” he said in a statement. The Indian cryptocurrency market is expected to reach up to$ 241 million by 2030 in India and$2.3 billion by 2026 worldwide.
According to a report by the IT industry’s apex body Nasscom, there are 15 million retail investors in India investing in the crypto tech space. According to Shivam Thakral, CEO, BuyUcoin, a homegrown cryptocurrency exchange, the launch of the first bitcoin ETF on the New York Stock Exchange is a moment of reckoning for the global crypto frugality and the world’s oldest cryptocurrency. “ Bitcoin is witnessing its meteoric rise owing to the high around the ETF debut and is expected to touch the$ mark by the end of this year,” he said.
There has been a paradigm shift in the investment patterns across the globe which is underlined by the data shared by crypto exchanges from time to time. “ Bitcoin created a new each- time high indicates wider acceptance of crypto assets across the globe. The listing of the first bitcoin futures ETF is a big vault of faith for crypto investors as it took eight long times to get the final approval from US securities,” said Jay Hao, CEO of cryptocurrency exchangeOKEx.com. “ As we speak, the bitcoin market cap has touched$2.5 trillion, another new each- time high that’s awaited to boost the confidence of institutional and retail investors, globally. a flux of investments from institutions have also played a major role in creating the record high,” Hao added. (Agency)