This is not just naive retail investors investing in cryptocurrencies. Some of the growing tribes track cryptocurrencies and hope they will become more important in the next few years: mutual fund dealers and registered investment advisors (RIA). These financial advisers strive to invest their funds in multiple currencies. They said they were just preparing for the future.
Swapnil Pawar, the founder of ASQI Advisors (registered with SEBI), invests in four currencies through WazirX, a cryptocurrency exchange. Pawar leads ASQI Advisors, which operates absolute return hedge funds and advises on the international system of investing in Indian companies. On the other hand, Pawar is experimenting with cryptocurrency. We’re all fascinated by the blockchain technology on which cryptocurrencies are based.
In other places in Bangalore, Khaleelullah Baig, the founder of RIA Fintapp, registered with SEBI, is also investing in cryptocurrencies. Fintapp does not recommend any cryptocurrencies to its customers because SEBI is This keeps silent. “This is still a gray area, so it is best not to recommend it to customers. However, he believes that cryptocurrency is a good way for traders to prepare for the future. Baig said that even with my own money, investing in cryptocurrency is a good habit for me.
Last year, Bhuvanaa Shreeram, the Mumbai-based mutual fund issuer, wanted to give Vishu gifts to her niece and nephew in the United States. Remitting normal funds will mean requesting foreign currency and finding someone to accept it. do? He considered buying Bitcoin and sending it out. He said happily: “First of all, I was attracted by the rebellious nature of Bitcoin creation.” He did not send any Bitcoin abroad, but he liked the idea very much. Consult the growing areas of the community. He is preparing for the so-called tsunami.
There are still uncertainties in cryptocurrency. India and many other countries in the world can make it illegal. Even if they are legalized, the question remains who will supervise them. However, some traders and financial advisors want to do this. Prepare for the future.