Modi's Gold Appeal: Bullish Signal for Crypto in India?PM Narendra Modi (May 10, Hyderabad) urged Indians to skip gold purchases for weddings/investments for 1 year to conserve forex amid global tensions.
Crypto Impact: This could divert some savings toward Bitcoin & crypto as "digital gold" — a scarce hedge against rupee weakness & inflation. Expect short-term volume boost on Indian exchanges (WazirX, CoinDCX), especially among young investors. Caveats: Govt still prefers RBI’s e-Rupee (CBDC) over private crypto. 30% tax + 1% TDS stays. No policy easing expected; tighter forex rules remain a risk. #narendramodi #TrendingBinance $BTC