Renowned politician Shashi Tharoor, a former Minister of State for HRD and External Affairs, has made headlines yet again, this time with a disclosure in his Lok Sabha nomination affidavit. The Congress candidate for the Thiruvananthapuram constituency in the 2024 general election has unveiled his investment in a Bitcoin ETF, shedding light on his diverse portfolio.
Understanding Bitcoin ETF and Its Significance
In a move that highlights the evolving landscape of investment, Shashi Tharoor’s nomination affidavit reveals his ownership of a Bitcoin ETF valued at Rs 5,11,314. A Bitcoin ETF, short for Exchange-Traded Fund, functions as a vehicle for investors to participate in the cryptocurrency market without directly owning Bitcoin. Instead, investors can purchase shares of the ETF, mirroring the performance of Bitcoin’s price movements. This innovative investment avenue brings the world of digital currencies within reach of traditional investors, enhancing accessibility and liquidity in the process.
Insight into Tharoor’s Investment Portfolio
Delving deeper into Shashi Tharoor’s financial disclosures, his affidavit unveils a spectrum of investments, both domestic and overseas. Alongside his Bitcoin ETF holding, Tharoor’s overseas investments encompass equities amounting to Rs 9.33 crore, corporate bonds worth Rs 3.46 crore, certificate of deposits totaling Rs 91.7 lakhs, and options investments valued at Rs 19.98 lakhs. Additionally, his portfolio includes investments in US Treasury Securities worth Rs 2 crore, along with a loan to Estee Capital LLC, USA, amounting to Rs 1.1 crore.
Cash Holdings and Movable Assets
Noteworthy in his declaration is the disclosure of Rs 36,000 in cash holdings, underscoring the importance of liquidity in financial planning. Furthermore, Tharoor’s movable assets, including investments in mutual funds and other schemes, tally up to an impressive Rs 49.3 crore, showcasing the breadth of his investment acumen.
Immovable Assets and Political Aspirations
Apart from his movable assets, Tharoor also held immovable assets worth Rs 6.75 crore. Shashi Tharoor, who is contesting from Kerala’s Thiruvananthapuram constituency, is a sitting Member of Parliament from the same constituency. He filed his nomination on Wednesday, further solidifying his bid for re-election.