Cryptocurrency

Just when Bitcoin seemed to be breaking out of its long winter, a publicity stunt by one of the crypto industry’s most prominent billionaires is raising questions as to whether this asset class should be in mainstream investors’ portfolios.

Bitcoin and Dogecoin have emerged as the most popular crypto pairing among Indian investors across age groups, according to a report. While younger investors are driving new participation, older investors display stronger buying conviction and greater portfolio diversification.

The CBDT has issued a guidance note to operationalise India's crypto-asset reporting framework in line with the OECD's global standards. While there is no change in crypto taxation, experts say investors should focus on accurate record-keeping as information sharing becomes more structured.

Donald Trump's investment accounts, managed by third parties, have executed over 6,100 stock trades in 2023. Notably, they sold Micron shares while acquiring Nvidia stock, highlighting a contradiction between Trump's public praise for Micron and his accounts' trading decisions.

Russia's largest private lender Alfa Bank is testing cryptocurrency trading on its investment app and planning a suite of cryptocurrency services ahead of the government's digital asset legislations and regulations.

US Treasury Secretary Scott Bessent stated that President Trump's recent crypto earnings of $1.4 billion do not present a conflict of interest, despite Democratic criticism. Details here.

The RBI told a Parliamentary panel that virtual digital assets, including cryptocurrencies, threaten emerging economies like India and should remain banned. It cited risks such as terror financing and regulatory challenges

Bitcoin struggles near $58,000 as bearish sentiment prevails. The market looks towards US economic reports and expected interest rate hikes, causing subdued trading and cautious investor behavior across digital assets.

Bitcoin futures dropped to $58,995 on Thursday, over 50% below last year's peak, with predictions indicating a further decline to around $42,000-$44,000 by year-end. Profit booking across assets and rising AI investments contribute to selling pressure amid a strong U.S. Dollar Index.

Vijay Kedia shares insights on market cycles, explaining that investment opportunities rotate through phases of optimism, euphoria, and correction. He encourages investors to recognize patterns in asset classes and advises focusing on long-term strategies rather than short-term trends.