Will crypto gain ‘currency’ as asset class since payment option is out?
Reading now: 716
(This story originally appeared in on Dec 21, 2021)
economictimes.indiatimes.comIn 2016, when Hiten Malviya (29) bought a bitcoin for the first time, the virtual currency was worth less than $1,000. After an initial investment of Rs 40,000, Malviya had become a ‘crypto millionaire’ within a year as the value of bitcoin hit $20,000 in 2017-end.
In 2018, Malviya, however, lost nearly 80% of his net worth as bitcoin’s price crashed to $3,000. He could not even access his assets due to an RBI ban on facilitation of crypto trade by banks.
“It was a difficult time not only financially but also socially. Crypto was perceived as illegal,” said Malviya.
Read more on economictimes.indiatimes.comAbout this in other media
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.
