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In the context of geopolitical instability and rising inflation, investment firm Bernstein calls on India to adopt Bitcoin as a strategic asset. This approach could indeed shake up India’s still gold-centric financial landscape. More details below!
NEW: 🇺🇸 🇮🇳 Bernstein urges Indian government to consider #Bitcoin as a strategic reserve asset amid U.S. pro-crypto shift. pic.twitter.com/aRAIwyFWEi
— Crypto India (@CryptooIndia) November 12, 2024
Why should India consider Bitcoin as a strategic reserve?
Historically, India has been associated with gold for financial security. But he could benefit from it today unique benefits of bitcoinoften nicknamed “digital gold”. According to Bernstein, India’s gold reserves have increased by 53% in ten years. However, gold has its limits:
- risks of physical storage,
- exposure to foreign controls.
Bitcoin, on the other hand, offers a digital and decentralized solution. Bernstein thus argues that in the context of rising US debt and global tensions, BTC is proving to be a safe haven. Indeed, by facilitating regulated adoption of cryptocurrencies, India could better protect its investors from the vagaries of global financial markets.
Regulation Key Role for Cryptocurrency Adoption in India
Currently classified by India Bitcoin as a “Private Currency”. It neglects its potential as a store of value. Bernstein therefore emphasizes the urgency of a national policy that would allow access to secure cryptographic products.
Recent the success of bitcoin ETFs launched giants like BlackRock and Fidelity show the growing interest of financial institutions in BTC. Taking inspiration from these initiatives, India could promote safe crypto investments. But not only that! It would also reduce the risks associated with hacking or fraud.
Therefore, adopting Bitcoin as a strategic reserve would be a bold move for India. However, in the face of the rapid development of crypto markets, it is crucial that the country acts in order not to be left behind. A thoughtful transformation could strengthen its role on the global economic scene.
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My name is Ariela and I am 31 years old. I have been working in the field of web development for 7 years. I only discovered trading and cryptocurrencies a few years ago. But it’s the universe that interests me a lot. And the topics covered within the platform allow me to learn more. A singer in my spare time, I also have a great passion for music and reading (and animals!)
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.
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