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Tweet Buster: Can Bitcoin replace gold? And how to live with high PE

3 days ago
in Market
4 min read
Tweet Buster: Can Bitcoin replace gold? And how to live with high PE
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NEW DELHI: As the stock market turned lacklustre last week amid a spike in bond yields and the firming up of the Dollar Index, Bitcoin hogged limelight after its market value surged to more than $1 trillion for the first time. Those looking for diversification of portfolio for hedging purposes are showing preference for cryptocurrencies over gold.

In this edition of Tweet Buster, we bring you the best of investing gems, stock market outlook and money-making ideas — all in 280 characters.

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Bitcoin the new gold?
PMS fund manager Basant Maheshwari said over the next few decades, Bitcoin has the best chance to replace gold.

Over the next few decades #Bitcoin has the best chance to replace #gold. Indians can just tweet (thanks to our re… https://t.co/RLT8cP02pA

— Basant Maheshwari (@BMTheEquityDesk) 1613877570000

Ban vs regulation
Deepak Shenoy, founder and CEO of Capital Mind, also came out in support of cryptocurrency, saying it is a useful asset class. “I don’t support an outright ban on bitcoin in India, but I believe it’s inevitable that it gets substantially more regulated. It’s going to be impossible as a currency even if some people want to try, but it’s a useful asset class.”

Fwiw, I don’t support outright bans of bitcoin in India, but I believe it’s inevitable that it gets substantially m… https://t.co/vRkHznuXHj

— Deepak Shenoy (@deepakshenoy) 1613445231000

Risk reduction strategies
Value investor Abhishek Basumallick shared advice on how to reduce risk by buying quality, staying within one’s circle of competence and having adequate diversification along with a stop loss.

Reducing risk is the foremost objective of an investor. Can be done by:- buying quality- staying within circle of… https://t.co/0bYdLqKBVP

— Abhishek Basumallick (@a_basumallick) 1613482187000

Demat rush
Zerodha CEO Nithin Kamath said the last month was big for the stock broking industry. “The best year for the market since 2010 was by far 2014. Nifty was up more than 30% and the industry added 13 lakh new demat accounts in 1 year. And, January 2021, just in 1 month 17 lakh new demat accounts were added.”

How big was Jan 2021 for the broking industry? The best year for the markets since 2010 was by far 2014. Nifty wa… https://t.co/ZqvbFkrnpn

— Nithin Kamath (@Nithin0dha) 1613661862000

Here’s the yearly Demat addition for the last 20yrs. Stockbroking is as high beta as it can get. When someone asks… https://t.co/ROnzodOxEI

— Nithin Kamath (@Nithin0dha) 1613734086000

Isn’t renting better?
Radhika Gupta, MD and CEO, Edelweiss Asset Management, questioned the financial logic of buying a house. “If you think investing is only logical, and not emotional, think about real estate ownership. Any rental yield math tells you buying in a big city makes no sense, but falls flat in front of the need to have a roof over the head.”

If you think investing is only logical and not emotional, think about real estate ownership. Any rental yield math……



Read more:Tweet Buster: Can Bitcoin replace gold? And how to live with high PE

Tags: Bitcoinbitcoin newsbitcoin news todaybitcoin vs goldBustergoldHighLivereplaceShare market newsstock marketTweet

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