‘$100 bn real-world income per year with Apple shares’: Zerodha co-founder Nikhil Kamath 

Zerodha and True Beacon co-founder Nikhil Kamath said in a recent tweet that if you have Apple shares, you can have $100 billion of annual real-world income. Kamath tweeted, “Beyond all the futuristic stuff crypto sells, if one has Apple shares today vs Bitcoin as an asset class, with Apple you have $100 b of real-world income per year.” 

Nikhil Kamath is not the only one to bash crypto. Founder and CEO of Zerodha and Rainmatter Nithin Kamath also talked about how TDS and tax on crypto investments announced in the budget were a blessing in disguise.  

He wrote, “I think many Indian crypto investors accidentally got lucky due to TDS and tax on the crypto announcement this budget in Feb. Activity and participation dropped significantly immediately. If not, many could have been trapped trying to buy the dip and then averaging down.” 

He further explained the biggest reason for making losses while trading even in stocks is “trying to make a wrong trade right by throwing good money at bad money.” Kamath said this is averaging down.  

He added, “Whenever I have to explain this, I use the activity in Yes Bank in 2019 as an example. The stock price went down from Rs 400 to Rs 10 and with every fall new investor jumped in and many existing investors bought more.” 

Crypto markets today

Global market capitalisation nosedived by 13.63 per cent to $901 billion as of 7:30 am on Tuesday, as per CoinMarketCap. Bitcoin went down to $21,109 after a fall of 18.29 per cent whereas Ethereum tumbled by 17.49 per cent to $1,118.  

BNB token plummeted by 14.11 per cent and XRP of Ripple has decreased by 10.9 per cent over the past 24 hours. Dogecoin has reached the tenth spot in terms of market capitalisation after a 15.17 per cent decline.  

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