Radhika Gupta, MD and CEO of Edelweiss Mutual Fund, offered a blunt response when asked whether investors should consider cryptocurrency for wealth creation: “Don’t buy crypto.”
Speaking at the India Today Woman Summit 2026, Gupta clarified that her objection was not necessarily to cryptocurrency as a global asset class, but specifically to investing in crypto from India.
Understand what you are buying
Gupta's first concern was straightforward: investors should not put their money into something they do not understand.
She recalled an uncle who wanted to invest in crypto but could not explain why he wanted to buy it. For Gupta, that lack of understanding was itself a warning sign.
Her broader message was that investors should not buy an asset simply because it is popular or because others appear to be making money from it. Understanding the product, its risks and its potential downside is essential.
Why India makes a difference
Gupta also distinguished between investing in crypto in India and investing in markets such as the US.
She suggested that she might have given a different answer if she were discussing the subject in the United States. In India, however, she is concerned about the regulatory and tax environment and what investors can do if something goes wrong.
Her argument is that potential returns are only one part of an investment decision. Investors also need to consider the protections and avenues for recourse available if a platform fails, a dispute occurs or their investment runs into trouble.
Don’t chase the most exciting investment
Gupta's crypto stance reflects her wider investment philosophy: understand the product, assess the risks and know why you are investing.
She compared a balanced portfolio to an Indian thali, with equity, debt and gold serving different purposes. She also described mutual funds as a financial food court where investors can select products based on their risk appetite.
So her warning is not that every cryptocurrency investment will inevitably lose money. Rather, she believes Indian investors should be especially cautious about putting money into an asset they may not understand and where the regulatory protections and recourse may not be as clear as they expect.
Her message was therefore less “crypto can never make money” and more “don’t take risks you don’t understand.”
A useful next step is to separate crypto’s potential returns from its India-specific regulatory, tax and custody risks before deciding whether it belongs in a portfolio.
