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India Today
a day ago
- Business
- India Today
India's rich are swapping gold for bitcoin. Here's Why
For generations, gold has been the crown jewel of wealth for Indian families. From family vaults to wedding gifts, it has symbolised trust, security, and cultural pride. But times are changing, and so is how the wealthy manage their a quiet but noticeable shift is happening. More of India's rich are putting a slice of their gold-backed wealth into shiny new digital coins like DRIVING THE SHIFT?So, what's fuelling this move away from the familiar yellow metal to a digital asset that didn't even exist two decades ago? According to Edul Patel, CEO and Co-Founder of Mudrex, 'Since the US elections last year, interest in crypto has gone up globally, boosting overall confidence. In India, more HNIs and family offices are starting to add crypto to their portfolios — mainly for diversification and as a hedge.''At Mudrex, about 30% of our volumes now come from this group. They usually invest 2–5% in digital assets like Bitcoin, Ethereum, and Solana, these three alone make up nearly 70% of those investments,' he GROWING APPEALWhat makes Bitcoin stand out? Its biggest pull today is rising institutional interest and clearer rules. As the crypto market matures, Bitcoin's wild price swings are also settling down cycle by cycle, making it more attractive for the long Gupta, co-founder of CoinDCX, explains, 'The mindset among wealthy Indian investors is changing, from asking why they should invest in crypto, to how much they should allocate to it in a well-diversified portfolio.'He says trust is growing thanks to big global names like BlackRock launching Bitcoin ETFs. 'Moves like this send a strong signal that Bitcoin is no longer just for tech geeks, it's becoming part of mainstream finance,' Gupta RISK AND REWARDOf course, Bitcoin's journey is far from risk-free. India's wealthy know this. So how do they balance Bitcoin's promise of high returns with its reputation for big swings?Patel says the wealthy treat crypto with measured caution. 'We typically see them allocating no more than 2–5% of their portfolios to digital assets, which reflects a clear understanding of the inherent risks and volatility. This conservative allocation allows them to tap into the potential upside of crypto while maintaining overall portfolio stability,' it Gupta draws a parallel with the early internet boom. 'Investors are selective, focusing on high-conviction assets like Bitcoin, Ethereum, and key Layer 1s, where fundamentals are becoming clearer and institutional interest is deepening.' Many also bring in trusted advisors and build special teams inside family offices to handle crypto safely, he Maradiya, Founder and Chairman of CIFDAQ, says Bitcoin's eye-catching returns are hard to ignore. 'Bitcoin's outsized returns, nearly 70% CAGR over a decade, are drawing HNIs seeking higher growth than gold's conservative 6–8%.''They treat crypto as a high-risk, high-reward slice (5–8%) of their portfolio. Exposure is managed through family offices, professional fund managers, long-term horizons, and diversification across Bitcoin, Ethereum, stablecoins, and Web3 startups. Secure custody and regulated platforms reduce operational risk,' he NEXT-GEN PUSHSo, who's sparking these crypto conversations at India's lavish dinner tables? It's the next points out that next-gen heirs are often the first to raise the idea. 'Being more tech-savvy and open to new asset classes, they're often the ones initiating conversations around crypto,' it added, 'Next-gen heirs are driving digital diversification. They influence family office strategies, push for crypto and other digital assets, and are even embedding them into succession and estate planning.'OLD GOLD, NEW COINSOf course, Bitcoin isn't risk-free. Maradiya warns that its price can swing wildly, its yearly ups and downs are four times bigger than gold's. Plus, there's India's flat 30% tax on crypto gains and a 1% TDS, which can eat into profits. HNIs are tackling this with careful position sizing, secure storage, and professional help to avoid hacks or experts believe it won't replace gold but will sit next to it. Patel believes Bitcoin will become a bigger part of India's wealth plans in the next five years, as better rules and digital infrastructure take shape.'As regulatory clarity improves and digital infrastructure matures, we anticipate a significant rise in allocations toward Bitcoin, especially among younger HNIs and progressive family offices who see it as digital gold for the 21st century,' he agrees gold's emotional and cultural value is unmatched in India, but Bitcoin brings something new: digital, scarce, and borderless. 'It's not about replacing gold, but about diversifying beyond it,' he sees Bitcoin forming 5–10% of HNI portfolios in the coming decade, fuelled by younger investors and new offerings like Bitcoin the end, gold and Bitcoin are unlikely rivals, they're becoming partners. One is timeless, the other is cutting-edge. Together, they show how India's wealthy are blending old and new to shape the future of wealth, one coin at a time.- Ends advertisement
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Business Standard
3 days ago
- Business
- Business Standard
Crypto markets rally as US clears GENIUS Act; BTC holds $120k, ETH eyes $4k
Crypto markets surged with renewed momentum after the US House passed key crypto bills, including the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, signaling strong support for broader digital asset adoption. The other bills passed include the Digital Asset Market Clarity Act of 2025 and the Anti-CBDC Act. The approval of these crypto-related bills, analysts said, has boosted investor confidence and added regulatory clarity, driving strong upward momentum across the market. At last check, Bitcoin was trading at around $120,215, up 1.51 per cent, with a 24-hour trading volume of $498.7 billion. The flagship cryptocurrency has fluctuated between $117,508.22 and $120,999.61 over the past 24 hours on CoinMarketCap. Bitcoin is nearly 2.55 per cent away from its all-time high of $123,091, reached on July 14 this year. Its market cap stood at $2.39 trillion, the highest among all cryptocurrencies. Crypto markets, Vikram Subburaj, CEO of Giottus, said, have been re-energised after the US passed the GENIUS Act, adding strength to the broader crypto adoption narrative. US-based XRP and HBAR have rallied 18–22 per cent today in anticipation of more favourable laws in the country. Edul Patel, co-founder and CEO of Mudrex, also attributed the crypto market rally to the passing of these bills in the US House. "The crypto market is gaining strong upward momentum as the US House passed key crypto bills, boosting investor confidence and regulatory clarity," Patel said. "Crypto's rally appears to have further legs, but with the total market cap approaching a milestone at $4 trillion, some profit-taking could affect it in the short term," said Subburaj. He added, "As this plays out, traders are advised to stick to altcoins which have shown strength against BTC in the past 10 days." Ethereum (ETH) eyes $4000 Ethereum (ETH), on the other hand, continued its northward rally for yet another session and was holding above $3,500 levels. At last check, it was trading with gains of 7.48 per cent at $3,595, with a 24-hour trading volume of $53.33 billion. Ethereum, Patel said, "is eyeing the $4,000 level, with solid support at $3,300." Altcoins rally According to CoinSwitch Markets Desk, crypto markets remain in a powerful altcoin-led rally, with Bitcoin holding steady around $120,000 as BTC dominance slips to 61.6 per cent, down from 64 per cent just weeks ago—highlighting that nearly 38 per cent of top-50 tokens have outperformed BTC over the past 90 days, signaling an emerging altseason. The total altcoin market cap has swelled past $1.3 trillion, driven by Layer-1 gains (SUI up 36 per cent, SEI up 41 per cent) and memecoin momentum, while risk-on sentiment spreads with trad-fi investors taking risk at a 25-year high. Among other popular cryptocurrencies, Ripple (XRP) was rallying higher by 17 per cent, and Cardano (ADA) was up 14.45 per cent. "The risks remain, as looming tariff deadlines next month could derail global liquidity and spark volatility, while procedural stalls in the Senate could delay regulatory execution," they said.
Time of India
4 days ago
- Business
- Time of India
Bitcoin rallies to new highs: Why are Indians investors pouring money into cryptocurrency? What analyst say
Bitcoin's record-breaking rally over the past week has sparked a surge in interest from Indian investors, with major crypto platforms like CoinDCX, CoinSwitch, Mudrex, and ZebPay reporting sharp jumps in inflows and trading volumes. Combined, the platforms recorded net inflows of $150–200 million in just seven days, according to estimates. CoinDCX reported a 40% jump in daily trading volumes in July, up from $9.17 million last month to $12.82 million. CoinSwitch also saw a 22% week-on-week rise in both spot and futures trading volumes. Spot volumes alone grew by 145%, the exchange noted, according to ET. Mudrex reported that its trading volumes doubled during the week, with nearly 40% of the growth coming from tier-2 and tier-3 towns. ZebPay, meanwhile, saw a 75% surge in average weekly volumes. Bitcoin's current growth is being driven by a mix of increasing institutional participation, improved regulatory clarity, and favorable macroeconomic conditions, according to ZebPay. While Bitcoin and Ethereum continue to dominate, ZebPay highlighted increased activity in meme tokens like Pengu and Bananas31, which have also drawn investor attention amid the broader crypto rally. "The spike was most notable between July 10 and 15, when BTC (Bitcoin) prices surged past $116K, driving higher engagement from both retail and high-value investors," CoinDCX founding partner Mridul Gupta told ET. "BTC trading volumes in July (till July 15) touched 16.69 million, with a daily average of 1.11 million, nearly 80% higher than June's daily average of 0.62 million," he added. Analysts suggest the cryptocurrency market might stabilise in upcoming weeks. Bitcoin could soon break past the $140,000 mark, according to Edul Patel, CEO and co-founder of Mudrex. "Awareness around Bitcoin is significantly higher, and institutional players are now entering the space in a meaningful way. However, retail adoption remains relatively untapped suggesting that despite the current surge, there is still substantial room for upside," he noted. CoinDCX's Gupta urged caution, warning that, "risks such as thinning liquidity near resistance levels, surprise macroeconomic shocks (e.g., inflation prints) and rising leverage in derivatives markets could lead to heightened short-term volatility." Still, the second half of 2025 looks promising, he said, suggesting Bitcoin may even aim for the $150,000 to $185,000 range by year-end. Meanwhile, Himanshu Maradiya, founder of blockchain firm CIFDAQ, called the recent rejection of Trump-backed crypto bills in the US 'a procedural hiccup,' not a major setback. "While Bitcoin dipped around 3% post-vote and crypto stocks like Coinbase, Circle and MicroStrategy also saw declines, the broader momentum remains intact, supported by strong institutional demand," he added. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
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Business Standard
4 days ago
- Business
- Business Standard
Bitcoin consolidates, ETH breaks out; analysts eye bullish altcoin cycle
Flagship cryptocurrency Bitcoin (BTC) continues to consolidate around $118,000 as demand for major altcoins picks up. At last check, Bitcoin was trading at $118,630, up 0.63 per cent, with a 24-hour trading volume of $71.41 billion, according to data from CoinMarketCap. Over the past 24 hours, BTC has fluctuated between $117,751 and $120,065. Its market capitalisation stood at $2.36 trillion, the highest among all cryptocurrencies. Vikram Subburaj, CEO of Giottus, believes the consolidation in Bitcoin's price is due to growing demand for other altcoins. Ethereum (ETH), for instance, has broken out of a consolidation zone against Bitcoin and recently crossed the $3,300 mark, with targets now set at $3,500. 'This implies a seasonal shift in money flows from Bitcoin to other major altcoins. This is usually a precursor to a full-blown alt-season, which could mark the end of this bullish cycle over the next 6–9 months,' said Subburaj. For this cycle to unfold, he believes Bitcoin needs to maintain a bullish trajectory, especially as macroeconomic and tariff-related cues improve. Echoing similar views, Edul Patel, Co-founder and CEO of Mudrex, said Ethereum is currently outperforming after confidently breaching the $3,000 level. At last check, ETH was trading at $3,377.86, up 7.64 per cent over the previous day. Ethereum has fluctuated between $2,379.57 and $2,481.22 in the past 24 hours. Patel noted that Ether futures open interest hit a record high on Wednesday — a signal of strong bullish sentiment that is prompting traders to aim for higher price targets. 'ETH's strength suggests a shift in momentum within the broader crypto market,' said Patel. From a technical perspective, Patel sees the next resistance for Bitcoin between $124,000 and $126,000, while $113,000 remains a key support level. Among other altcoins, the top gainers for the day include FLOKI, which rose over 26 per cent, followed by Curve DAO Token with a gain of over 16.2 per cent, BONK up 14.64 per cent, and SPX6900 and Fartcoin, each up over 11 per cent. On the other hand, dropped by over 17 per cent, followed by Pudgy Penguins, down over 8.3 per cent, and SEI, which fell by 7.36 per cent, according to the CoinDCX research team. The overall market sentiment, analysts said, remains bullish despite interim bearish movements.
Time of India
5 days ago
- Business
- Time of India
Indians are pouring into crypto as Bitcoin rockets to new highs
Academy Empower your mind, elevate your skills Bitcoin's meteoric rise of breaching all-time highs in the last seven days has seen Indian investors join in the rally. Top Indian exchanges CoinDCX , Coinswitch, Mudrex and Zebpay have cumulatively recorded net inflows of $150-200 million in the past seven days, estimates said daily trading volume in July has gone up 40% to 12.82 million from 9.17 million last month. Coinswitch saw a 22% increase in spot and futures trading volume week-on-week. Spot volumes alone have grown 145%, it said. Mudrex reported doubling of trading volumes in the past week, with tier-2/3 cities and towns accounting for 40%. ZebPay noted an average 75% increase in weekly Bitcoin and Ethereum continued to dominate trading activity, other meme tokens like Pengu and Bananas31 have also seen a sharp rise in volume, Zebpay said.'The spike was most notable between July 10 and 15, when BTC (Bitcoin) prices surged past $116K, driving higher engagement from both retail and high-value investors,' said CoinDCX founding partner Mridul Gupta.'BTC trading volumes in July (till July 15) touched 16.69 million, with a daily average of 1.11 million, nearly 80% higher than June's daily average of 0.62 million,' he analysts said the crypto party may calm down in the coming weeks, as US Congress on July 15 voted against President Donald Trump's three bills on digital assets: the GENIUS Act, CLARITY Act and the CBDC Act.'Bitcoin's current growth momentum is being powered by a confluence of institutional adoption, regulatory clarity and macroeconomic tailwinds,' said Harish Vatnani, head of trade at ZebPay.'Major players like BlackRock, Fidelity, and Franklin Templeton have made sizable allocations to spot Bitcoin ETFs. Corporates such as Strategy (formerly MicroStrategy) continue to accumulate Bitcoin, reinforcing market confidence,' he said, adding that the markets appeared to be approaching a new bull run, one that mirrors the highs of 2022 but with greater Patel, CEO and cofounder of Mudrex, expects Bitcoin breaching the $140,000 mark in near term. 'Awareness around Bitcoin is significantly higher, and institutional players are now entering the space in a meaningful way. However, retail adoption remains relatively untapped suggesting that despite the current surge, there is still substantial room for upside,' he Gupta cautioned that investors must tread carefully. 'Risks such as thinning liquidity near resistance levels, surprise macroeconomic shocks (e.g., inflation prints) and rising leverage in derivatives markets could lead to heightened short-term volatility.'However, the market is entering the second half of 2025 with 'clear tailwinds', and 'we may even see BTC eye the $150K–$185K zone by year-end', he Maradiya, founder and chairman at blockchain company CIFDAQ, said the rejection of Trump-backed crypto Bills is more of a procedural hiccup than a fatal blow to the current crypto bull run 'While Bitcoin dipped around 3% post-vote and crypto stocks like Coinbase, Circle and MicroStrategy also saw declines, the broader momentum remains intact, supported by strong institutional demand,' he said, adding that the US House plans to revisit the vote soon.
