After Tesla CEO Elon Musk acknowledged his investment in cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, there is another very popular face who is all set to increase his investment in this digital asset. This person is no other than Sarath Ratanavadi. Sarath Ratanavadi, the CEO of energy company Gulf Energy Development is also Thailand’s second-richest person.
The Thai billionaire has reportedly said that his firm is contemplating investing in cryptocurrency to boost earnings. He is quoted as saying that the Blockchain technology platforms, as well as the cryptocurrencies, will be the main driving factors for the company’s strongest returns” as the overall market has “high potential” for growth.
Ratanavadi’s sudden interest in cryptocurrencies is seen at a time when the crypto market has come under the scrutiny of the local government, resulting in reduced trading activity by retail traders on local exchanges.
It is worth mentioning that businesses that have shown interest in cryptocurrency include not only Musk and Sarath Ratanavadi; there are others on the list. These include software maker MicroStrategy, tech conglomerate Block Inc. and Chinese photo application company Meitu.
