Rakesh Jhunjhunwala bats on banning bitcoin | Arriba Trends

Rakesh Jhunjhunwala bats on banning bitcoin


Billionaire investor from India, Rakesh Jhunjhunwala said the country’s regulators should ban the decentralised cryptocurrency like Bitcoin.

While interacting with the CNBC’s “Street Signs Asia” he said that, he will never bat on bitcoin. He said, “I think it’s speculation of the highest order. I don’t want to join every party in town. I think the hangover is much worse”. He also said that currecy is the sovereign right of a state and it should only be controlled by the respective regulators.

It is to be noted that the Indian government has recently cleared that very soon they will be banning the decentralised digital currency like Bitcoin and will launch the nations own state controlled digital currency.

He also reiterated his earlier stance that India is going to make a strong recovery based on the reforms and policy initiatives taken by the government in its Union Budget 2021. He said, “I think we now have a resurgent India. The Indian budget conveyed that the government is going to do what needs to be done in terms of policies and reforms. All these things are going to come together”.

He also said that, India being in its last phase of Covid-19 is likely to register a double digit growth in the coming year.

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