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“India is experiencing a significant evolution in its crypto industry”, says Shivam Thakral. He’s the chief executive of BuyUcoin.
Thakral expects crypto adoption to accelerate in India
Thakral is convinced the world’s fifth largest economy is seeing a “shift in mindset” from its typical risk-averse investment approach.
And the momentum, he told Invezz in a recent interview, will only accelerate as regulatory clarity continues to improve moving forward.
Still, the chief executive agreed there were risks involved and recommended that investors conduct thorough research and take a long-term stance on their crypto investments instead of short-term speculation to mitigate them.
Note that India secured top spot in grassroots cryptocurrency adoption, as per Chainalysis 2023 Global Crypto Adoption Index.
BuyUcoin’s Shivam Thakral shares outlook on Bitcoin
Bitcoin has been rather weak in recent days following the halving event on April 19th (find out more).
Still, Shivam Thakral of BuyUcoin remains bullish on the world’s largest cryptocurrency by market cap as its “fundamentals remain strong” with many continuing to see it as a “store of value” and a “hedge against inflation”.
The chief executive expects BTC to resume its rally as “adoption continues to grow” on the back of spot exchange-traded funds that were approved earlier in 2024.
Bitcoin is currently trading well under the key $60,000 level – down significantly from an all-time high of over $73,000 in mid-March.
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