Cryptocurrencies have seen immense investor interest even in an unregulated environment and that signals a risk to traditional investment avenues like the stock market, according to Nithin Kamath, founder and CEO of online stockbroking platform Zerodha.
“If there is one potential disruptor for regulated businesses around savings, investing and trading, I think it is crypto. Eventually, money chases money. If one asset class is going to give you more returns than other asset classes, money will flow towards that,” Kamath said.
He further added that it can also be a risk to businesses like Zerodha and other companies that offer savings products as people may choose crypto over other investment options.
Kamath, along with PB Fintech founder and CEO Yashish Dahiya, was speaking with Razorpay founder Harshil Mathur at the startup’s annual event Razorpay FTX on the future of fintech companies going public. This comes in light of the slew of fintech and internet company Initial Public Offerings (IPOs) seen in the past few months.