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Bitcoin has already become an asset class in India. There are more than 1 cr people holding the crypto in India. Elon Musk on Twitter said Tesla can accept bitcoin payments directly and that those sums "will be retained as bitcoin, not converted to fiat currency. Powell also said the Fed is researching the potential for a central bank digital currency, though he added that the Fed is not yet near a decision about implementing one.
While the Nifty has jumped 73 percent in FY21, bitcoin has seen a dizzying rally of more than percent, as per Coinmarketcap. Gold has risen just about 7 percent in FY21, so far.