Is it a Good Idea to Invest in Cryptocurrency?
Cryptocurrencies are yet not regulated in India. As Sebi regulates investments in stocks and derivatives, banking transactions are regulated by the Reserve Bank of India; crypto transactions do not have any regulator as yet.
Amidst the recent Bitcoin price surge sparked by the introduction of the Bitcoin ETF, investors are advised to remain cautious. Regulatory uncertainties in over 190 countries, exemplified by Nigeria’s recent crackdown on cryptocurrency transactions, pose significant challenges for investors,” says Gaurav Mehta, Co-founder and CEO, Catax- Simple Crypto Taxes, as quoted by Livemint.
Warren Buffett, known as a legend of investing, too, have strong views on bitcoins. The Oracle of Omaha once remarked that if all the bitcoins in the world are made available for $25, he will still not buy them.
