It is widely proclaimed that Bitcoin holders are associative of the Free Money, but this time the tides have changed. Indian government is on the verge of injecting 32 billion dollars into its banking sector.
The exchange ratio in Bitcoins has seen an exponential growth in the recent times and with the advent of Bitcoin Gold and SegWit2x hard forks, the theory of finance is getting revived and reviewed and is being termed as a game changer, wherein Governments are using the former means to curb down the bad loan amount.
Goldman Sachs’ Forecast
The recent CNBC reports have clearly stated that Goldman Sachs forecasting has foresighted India to have an exponential jump due to the hidden package of relief, which is equitable to 1.3% of the GDP of the country.
Moreover, the banking sector has all high hopes due to the injection process and has foresighted a growth of almost 5 % in the GDP.
India: Is it worth investing?
The Indian domestic market has always been an area of concern for the investors in the recent years. Along with that, the rating agency Fitch gave alarming stats in case of cash resurfacing that might lead to the collapse of the banking sector, thus requiring a high voltage recapitalization. The rating agency has further evaluated that the government has to fuel in the minimum basis bare, which is exclusive of buffers, to address and mitigate the issue of non-performing assets.
In the midst of that, Aswath Damodara, the Dean of Valuation, The New York University, has classified Bitcoin as a currency of exchange and has termed it as OK, while valuing its price around $6000.
Bitcoin, amalgamated with the digital form of currency could do wonders for any economy and India is doing the same, realizing its potential much before its so called “advent.”
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