bitcoin: Bitcoin fever grips India amid global rally


    So, if an investor is buying a bitcoin on a cryptocurrency exchange, there is no guarantee that the seller actually possesses the bitcoins he claims to have.

    Synopsis

    New local retail investors and HNIs betting big as returns jump 200% this year; average daily turnover around $80 m

    Mumbai: The cryptocurrency frenzy worldwide has rubbed off on Indian investors too. With prices of bitcoin — the most popular cryptocurrency — soaring to a record high of $23,000 and bringing its returns so far in 2020 to over 200%, local retail and rich investors are flocking to this unregulated new-age asset despite expert warnings about abrupt price reversals.Over a million new investors have flocked to the bitcoin market in the six months

    BY

    ET Bureau

    6 mins read, Last Updated:

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