Experts echo RBI sentiments of high risk amid Bitcoin rally

Updated:8 years, 6 months ago

New Delhi, Dec 7 (ANI): As Bitcoin rocketed higher and crossed the $15,000 mark for the first time on Thursday, its high demand has made its prices to record heights worldwide. Cryptocurrency experts and the Reserve Bank of India have reiterated concerns involved in the investment in highly volatile market of Bitcoins. The digital currency surpassed USD 15,000 which shows fuelling investor interest ahead of the launch of Bitcoin futures on Chicago-based CBOE on Sunday. Earlier on Tuesday, the Reserve Bank of India (RBI) called on those trading in Bitcoin and other virtual currencies regarding the risks involved in the same. The RBI had also clarified that it has not given any license or authorisation to any entity or company to operate schemes or deal with Bitcoin or any other VC. Bitcoin is a virtual currency that emerged in the aftermath of the financial crisis and allows people to bypass banks and traditional payment processes to pay for goods and services.

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Experts echo RBI sentiments of high risk amid Bitcoin rally

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