Industry insiders have routinely compared Bitcoin to gold as a potential investment asset. The only similarities, however, are their decentralised natures, limited availability and the ability to run up in valuation despite crashes in other asset classes.
Nischal Shetty, founder, and CEO of India’s largest cryptocurrency exchange WazirX, echoed Mehta’s opinion. “PayPal allowing Bitcoin is big. It has one of the largest customer bases,” he said.