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Bangladesh is a developing country with a population of over 160 million people. According to the World Bank, Bangladesh has a GDP of $250 billion and is ranked as the 43rd largest economy globally. If you are thinking to invest in crypto you must know about Ethereum.
Growth of the stock market of Bangladesh
The Bangladeshi Stock Market is small but growing. As of April 2018, the market capitalization of the Dhaka Stock Exchange (DSE) was $39 billion. The DSE has two exchanges, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE).
In recent years, the Bangladeshi government has encouraged economic growth and development. In addition, the government has enacted several reforms to attract foreign investment, including simplifying the process for starting a business and introducing a new tax regime.
The Bangladeshi Stock Market has been increasing in recent years. In 2017, the DSE’s market capitalization increased by 50%, from $26 billion to $39 billion. This growth can largely be attributed to the government’s reforms and initiatives to encourage foreign investment.
Bitcoin has been growing in popularity and usage worldwide, including in Bangladesh. The Bangladeshi government has not yet taken a stance on Bitcoin, but the central bank has warned against its use.
Ways Bitcoin has affected the Stock Market of Bangladesh.
The rise of Bitcoin and other cryptocurrencies has had a significant impact on the stock market in Bangladesh. The Bangladeshi government does not currently regulate or recognize cryptocurrencies, but its central bank has warned investors about their risks.
Despite the warnings, many Bangladeshis have been investing in Bitcoin and other digital currencies. In December 2017, the price of Bitcoin reached an all-time high of nearly $20,000. It caused a surge in demand for Bitcoin in Bangladesh and a corresponding increase in the prices of other cryptocurrencies.
The rise in the price of Bitcoin and other digital currencies has positively impacted the stock market in Bangladesh. As a result, the Bangladeshi Stock Exchange (DSE) has seen a significant increase in trading volume and market capitalization since 2018.
The DSE’s total market capitalization rose from $24.4 billion in December 2017 to $37.5 billion in January 2018, more than 50%.
The surge in the stock market has been driven by several factors, including the growing popularity of digital currencies, the increasing use of mobile wallets, and the increasing number of initial coin offerings (ICOs) in Bangladesh.
The ICO market has seen a boom in Bangladesh, with more than $100 million raised through ICOs in the first quarter of 2018 alone.
The rise of digital currencies has also positively impacted the Bangladeshi economy. The country’s remittance industry, which relies heavily on money transfers from Bangladeshis living abroad, has seen a significant increase in business since the adoption of Bitcoin.
In 2017, $13 billion was sent to Bangladesh through remittances, increasing 20% from the previous year.
The increasing popularity of Bitcoin and other digital currencies is likely to impact the Bangladeshi economy in the long term positively. The country’s central bank has acknowledged the potential of cryptocurrencies and has stated that it is open to exploring their use in the future.
With more than 160 million people, Bangladesh has a large population that could potentially benefit from digital currencies.
Future of Bitcoin in the stock market of Bangladesh
According to a recent study by the University of Dhaka, the future of Bitcoin in the stock market of Bangladesh is looking very bright. The study found that most Bangladeshis are interested in investing in Bitcoin and that the country’s stock market is ripe for Bitcoin-based investment products.
The study also found that Bangladeshi investors are risk-averse and attracted to Bitcoin’s potential for high returns. It is a positive sign for the future of Bitcoin in Bangladesh, as it indicates that there is significant demand for investment products that offer exposure to cryptocurrency.
The study’s authors believe that the Bangladeshi stock market is primed for launching Bitcoin-based investment products and that such products could attract a significant amount of capital.
They believe that the launch of such products would help legitimize Bitcoin in the eyes of Bangladeshi investors and pave the way for broader adoption of cryptocurrency in the country.
Conclusion:
Overall, the future of Bitcoin in Bangladesh looks very promising. The country’s stock market is ready for Bitcoin-based investment products, and there is significant demand for such products among Bangladeshi investors.
If such products are launched shortly, they could help boost the adoption of Bitcoin in Bangladesh and make the country a key market for cryptocurrency.
