How to use Bitcoin to diversify your wealth during Diwali
This can be seen in two ways: one, the Diwali season has slowly become the de facto shopping fest for the country with incredible offers across online and offline platforms leading to insane levels of shopping and two, we can see a fascinating array of religious activities geared towards to build value creation.
One of them is Lakshmi Puja, a special ceremony to invite Goddess Lakshmi, the goddess of wealth and prosperity into their homes. This is done in the hope that they will be blessed with prosperity.
This fascinating connection between Diwali and wealth has also appeared to be an auspicious time to acquire new assets and make new investments. And, what better asset for value creation in this promising time than the best performer of the last decade – Bitcoin?
Traditionally, before Diwali, Indians have stuck to buying precious metals like gold. But as times have changed and crypto adoption is increasing worldwide, a new generation of Indians has taken more interest in Bitcoin.
After all, for a generation of Indians growing up as natives in a digital-first world, Bitcoin is an obvious choice. More people see Bitcoin as digital gold, a superior store of value and investment than gold, and thus an ideal investment choice to finance the future in the auspicious time of Diwali.
Diversification is a fantastic way to build wealth in the long run as it allows you to manage the volatility of the market. What works in Bitcoin’s favor is its low correlation with most securities and assets in the market. This can have a major impact on long-term returns.
With the price of Bitcoin now far from all-time highs, this also represents a fantastic time to invest in the asset – whether for the first time or to start a systematic investment plan where every week or month, a certain amount is invested in it. Many Indian crypto exchanges come up with interesting offers during the Diwali period to lure first-time investors.
Choosing the perfect Diwali gift can be a daunting task for many. Giving Bitcoin is not only efficient and super convenient, but it’s probably among the few gifts that have the potential to go up in value.
For newcomers to the space, this is an ideal time to buy or likely receive Bitcoin as a gift from friends or relatives. They could then use this opportunity to learn about Bitcoin and its potential, before making large investments in the sector.
But while investing in Bitcoin, especially for the first time, it is important not to get carried away by price speculation and greed. In fact, just as Indian households see gold as a long-term asset, Bitcoin also offers fantastic opportunities for value creation, but only if the investor is willing to adopt a long-term mindset and remain invested for the long term.
If you want to invite Goddess Lakshmi into your home this Diwali, look no further than adding Bitcoin to your portfolio and benefit from diversification.
(Mohammed Roshan, CEO and co-founder of GoSats)
