Today news
About the same in other media
Only a handful of 6,000-odd cryptocurrencies will survive, says Raghuram Rajan
Reading now: 314
livemint.comFormer RBI governor Raghuram Rajan on Wednesday said only a "handful" of the 6,000-odd cryptocurrencies in existence today might survive going forward.
Comparing the craze in cryptocurrency with that of the tulip mania in the Netherlands in the 17th century, Rajan said people hold cryptocurrencies for two reasons -- store of value and an asset which might appreciate; and for use in payments.
"Do we really need 6,000 cryptocurrencies to do payments? One or two, may be a handful, that is going to survive to be used for payments even if the technology is so useful that it is a substitute for cash and currency...
"That would suggest that most cryptos are unlikely to survive with high values going forward," Rajan told CNBC-TV18.
The remarks
Read more on livemint.comAbout this in other media
Bill on cryptocurrency after Cabinet nod, says FM Nirmala Sitharaman business-standard.com /2 years ago
Russian Governor Who Slated Miners in October Now Plans to Welcome Them cryptonews.com /2 years ago
Show more
The website gocryptonft.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
