This can be seen in two ways: one, Diwali season has slowly become the de facto shopping festival for the country with incredible deals across online and offline platforms leading to crazy levels of shopping and two, we get to see a fascinating array of religious activities which is aimed at building wealth 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 also proves to be an auspicious time to acquire new assets and make new investments. And what better asset for wealth creation during this auspicious time than the best performing one over the last decade – Bitcoin?
Traditionally, before Diwali, Indians hold off on buying precious metals like gold. However, as times changed and crypto adoption increased around the world, a new generation of Indians took 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. Several see Bitcoin as digital gold, a superior store of value and investment than gold and thus an ideal investment choice to fund the future during the auspicious time of Diwali.
Diversification is a great way to build long term wealth as it allows one to deal with 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 significant impact on long-term returns.
With the price of Bitcoin now far from its all-time highs, this also represents a great 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 attract first-time investors.
Choosing the perfect Diwali gift can be a daunting task for many. Gifting Bitcoin is not only efficient and super convenient, but it is probably one of the few gifts that has the potential to increase in value.
For newcomers to the space, this is an ideal time to buy or probably receive Bitcoin as a gift from their friends or family. They can then use this opportunity to learn more about Bitcoin and its potential, before making large investments in the sector.
However, 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 view gold as a long-term asset, Bitcoin also offers great opportunities for wealth creation, but only if the investor is willing to adopt a long-term mindset and stay invested for the long-term.
If you are looking for Goddess Lakshmi in your home this Diwali, think no further than adding Bitcoin to your portfolio and benefit from diversification.
(Mohammed Roshan, CEO and Co-Founder of GoSats)