October 10, 2024
By Anjali Kochhar
At the recent Traders Conclave 2024, Indian crypto exchange Mudrex CEO Edul Patel emphasised the changing view of Bitcoin, claiming, “Bitcoin is not as volatile as people perceive,” and pointing to its reducing volatility as institutional and retail use increases. This statement demonstrates the growing acceptance of Bitcoin as a legitimate asset class and long-term investment alternative.
In his keynote address, Patel elaborated on Bitcoin’s risk-to-reward profile, revealing that it is now comparable to that of Gold and the S&P 500. This comparison is significant as it positions Bitcoin as an attractive option for investors looking to diversify their portfolios.
Patel emphasised that while traditional indices like the NIFTY 50 have shown superior Sharpe ratios—a measure of risk-adjusted returns—Bitcoin still possesses considerable promise for long-term investment strategies. He stated, “Bitcoin can play a critical role in asset allocation,” reinforcing the idea that it can complement traditional assets in investment portfolios.
Patel also discussed the importance of responsible investing, urging participants to conduct thorough research and select trading platforms wisely.
“The key is to stay informed and make decisions based on sound research rather than emotion,” he advised, emphasising the necessity of fulfilling tax obligations to maintain good standing in the rapidly evolving cryptocurrency environment.
Mudrex has positioned itself as a key player in the Indian fintech landscape, promoting ethical investing practices and aiming to become the largest asset management platform for cryptocurrencies.
The company’s commitment to education and transparency is evident in its ongoing efforts to equip investors with the tools and knowledge needed for successful trading. Patel highlighted that as the cryptocurrency market matures, so too does the necessity for platforms like Mudrex to evolve and adapt to meet the changing needs of investors. “We want to empower everyday investors to explore wealth creation opportunities within the digital asset space,” he stated.
About the author
Anjali Kochhar covers cryptocurrency stories in India as well as globally. Having been in the field of media and journalism for over three years now, she has developed a sharp news sense and works hard to present information that goes beyond the obvious. She is an avid reader and loves writing on a wide range of subjects.
