Founder & CEO @ Blue Aster Capital, Founder @ CREBACO Global
SEBI just lit a fire under tokenisation. The bonfire is real. The fireplace doesn’t exist yet.
Central banks are quietly reducing their dollar reserves. China is settling oil in yuan. India and the UAE are trading in rupees and dirhams. And yet — 98% of stablecoins are dollar-denominated and growing. The most important macro story of 2026 is not what it looks like from the headline.
Bitcoin’s annualized realized volatility has been cut almost in half since ETFs launched. That is the best and the worst thing that has happened to crypto investing.
PwC data says the median crypto hedge fund returned 52% in 2024 — while Bitcoin did 121%. That gap is not a feature. It is the business model. Here is what to look for instead.
The answer is both — and it depends entirely on which building, which structure, and which investor you are talking about. I have looked at the deals. Here is what is real and what is not.