The richest investors in India expect to increase the volume of cryptocurrencies in their portfolios amid concerns about a slowdown in economic growth, Quartz writes.
According to the publication, about 36% of high-income Indian people are pessimistic about the country's economic prospects over the next three years. This forces them to invest in low-risk assets, mainly in real estate. On the other hand, only 24% of those surveyed said they were “extremely confident” in the Indian economy.
Despite the lack of risk appetite, 9.6% of wealthy Indians admitted that they plan to increase investments in cryptocurrencies over a three-year period, which exceeds the share of those who are going to invest their capital, for example, in art objects – 7.7% turned out to be such.
Almost half of the respondents said that they know little about cryptocurrencies. Of those who know something about digital assets, 29.15% prefer Bitcoin (BTC) , 8.74% prefer Ethereum (ETH) , and 6.8% prefer Ripple (XRP) .
Earlier, the Supreme Court of India decided the central bank of the country to justify the restrictions imposed last year on the servicing of cryptocurrency companies in local regulated financial institutions.
Publication date 09/02/2019
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