Bitten by the bitcoin bug?

Investors need to weigh risks and rewards of alternative asset class carefully before betting on it

Rajesh Bhayani 

Last Thursday, the price of bitcoin, a crypto currency, hit an all-time high of Rs 2.30 lakh a unit in the Indian market ($2,700 in international markets). By Saturday, it was down to Rs 1.64 lakh a unit — down 30 per cent in less than 48 hours. It provided a reality check for investors who thought that they had missed out on another chance to make a quick buck (See Great Returns).  The frenzy in bitcoins is being attributed to Japan’s legitimisation of digital currencies and Russia’s intention to follow suit. In fact, even the Indian government has ...

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Bitten by the bitcoin bug?

Investors need to weigh risks and rewards of alternative asset class carefully before betting on it

Investors need to weigh risks and rewards of alternative asset class carefully before betting on it Last Thursday, the price of bitcoin, a crypto currency, hit an all-time high of Rs 2.30 lakh a unit in the Indian market ($2,700 in international markets). By Saturday, it was down to Rs 1.64 lakh a unit — down 30 per cent in less than 48 hours. It provided a reality check for investors who thought that they had missed out on another chance to make a quick buck (See Great Returns).  The frenzy in bitcoins is being attributed to Japan’s legitimisation of digital currencies and Russia’s intention to follow suit. In fact, even the Indian government has ... image
Business Standard
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