- According to estimates, Ratanavadi is Thailands second-wealthiest citizen.
- Ratanavadi is strongly seeking licenses to be able to launch a crypto exchange.
Based on reports, Gulf Energy Development Chief executive officer Sarath Ratanavadi has promised to diversify a few of the firm’s earnings by purchasing blockchain environments. Regardless of the prevalent market crash and also the tough position taken by local watchdogs, the choice is made.
In addition, according to estimates, Ratanavadi is Thailand’s second-wealthiest citizen. His company provides electricity to countries. Included in this are Thailand, Vietnam, and Oman. His internet worth is near to $12 billion, based on the Bloomberg Billionaires Index.
Investment Despite Bears Dominance
Based on reports, the Thai millionaire has established that his clients are thinking about making crypto investments to be able to increase profits. The entire market has “high potential” for growth, and that he is reported as claiming that Blockchain technology platforms and cryptocurrencies will be the major driving forces for that company’s most powerful profits.
Because the crypto market originates underneath the scrutiny from the local government bodies, retail traders’ participation in local exchanges has decreased, prompting Ratanavadi’s newly found curiosity about cryptocurrency.
It’s worth noting that Musk and Sarath Ratanavadi aren’t the only real businesspeople about this list who’ve expressed fascination with cryptocurrency. MicroStrategy, an application development firm Block Corporation., a technology conglomerate Meitu, a Chinese photo application development firm are examples.
Thailand’s retail trader marketplace is not quite thriving at this time. Coinciding using the collapse in cryptocurrency values, data implies that the amount of active buying and selling accounts dropped from 692,000 in The month of january to 260,000 in This summer. Based on reports, Ratanavadi is strongly seeking licenses. This is needed to produce a cryptocurrency exchange in Thailand. Together with the already-established cryptocurrency exchange Binance.
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