Investors Increase Share of Crypto Assets in Global Investment Portfolio: Report | Hyderabad News

0


Hyderabad: Even as the government seeks to regulate the cryptocurrency space, Indians are betting big on crypto and increasing share of crypto assets in their overall investment portfolio, report from largest crypto exchange revealed of the country, WazirX.
In its latest report, “Highlights and Observations from 2021: The Year of Crypto,” WazirX said that for 44% of its respondents, crypto accounts for up to 10% of their overall investment portfolio. “Interestingly, only 11% of those surveyed in the ’51 and over’ age group said they allocated more than 50% of their total portfolio to crypto, while the same is true. for 29% of respondents in the 18-18 age group. 24 years, ”says the report.
According to the report, more and more people are relying on crypto as a hedge to protect their traditional investment portfolios against inflation. In fact, WazirX had a record transaction volume of over $ 43 billion in 2021 and its user base reached 10 million in November of this year, up from less than one million users in November 2020.
Commenting on the results, Nischal Shetty, CEO of WazirX, said investors are moving forward and are recognizing crypto as an emerging alternative asset class. “The government’s push towards a regulated approach to crypto would put India on the world map with other developed countries dealing with crypto,” he said.
Not only as a mode of investment, crypto investors are even considering a career in this emerging space, as 54% of those surveyed said they would be interested in a career in the crypto space, entrepreneurship, finance and business development being the best career. choices.
According to data from LinkedIn’s Economic Graph team, India’s crypto industry, directly or indirectly, employs around 50,000 people. According to a report by Nasscom, the crypto market in India has the potential to create more than 8 lakhs of jobs by 2030.
When it comes to investing, an interesting fact is that Bitcoin’s dominance is steadily declining, as with greater awareness, people are investing in other popular cryptos like Ethereum, Solana, and Cardano, among others. “2021 saw a sharp decline in Bitcoin’s dominance in transaction volume from 70% to 40%. Although Bitcoin was the most traded crypto on WazirX in 2020 as well as 2021, its contribution to our overall trading volume has fallen, ”the report states.


Share.

Comments are closed.