These days in India cryptocurrency is one of the topics that is being discussed almost every day. Sometimes it's because the government is working behind to bring some guidelines or a bill that might put restrictions on it in the country and sometimes some reputed stock investor shares a statement which also becomes news.
There is some of the news that has been shared in India about cryptocurrency recently. what is the biggest news is that Rakesh Jhunjhunwala is not interested to buy the cryptocurrency at any price? Rakesh has a reputed stock investor and he's the man who made huge amount of money through his investment in the stock market but when it comes to Bitcoin then he says that it should be banned and he is not interested at all to invest his money in this segment.
Rakesh Jhunjhunwala made it very clear that he will not invest in Bitcoin even if the price goes up. He believes that he doesn’t need to be invested in everything. There have been many times in the past when he missed on rallies just because he didn’t like it. Rakesh Jhunjhunwala went on record to say that the regulators must ban crypto in India. And I think he went a little too ahead of himself. Just the fact that he doesn’t like it shouldn’t make investing in cryptocurrency a wrong thing.
I think that Rakesh is surely a good investor in the stock market but he's not good in understanding technology so before sharing this kind of statement he must go through what he's talking about and that is the problem with these people nowadays. He is talking the same as mainstream media without even going through the details and there is something not appreciated at all. sharing any statement that he is not interested at all to invest in Bitcoin does not mean that he has an understanding and knowledge about Bitcoin and how it works.
According to the Minister of State for Finance and Corporate Affairs Anurag Thakur’s statement in Parliament, the bill is drawing upon the Garg Committee’s IMC report titled “Banning of Cryptocurrency and regulation of official digital currency” in 2019. The bill is now called “Cryptocurrency and Regulation of Official Digital Currency Bill, 2021”.
I would say he must go through the retail and understand since Bitcoin is not something which has got attention in jest one day or overnight. getting through Bitcoin and understanding each and everything about this technology surely help track is to know more about it.
Investors like Rakesh who are not at all interested to invest in Bitcoin As for their statement but they still want to talk about it which I really don't understand because if you're not interested then at least do not share your opinion unless you go through it. I'm not a big fan of Rakesh but I would not appreciate this kind of behavior and I hope next time whenever he says anything about crypto and Bitcoin he must have gone through some homework to have a better understanding.
Thank you so much.