Latest News
-
Bajaj Group Stock Declares Rs. 60/Share Dividend: Buy Ahead of Record Date On 28 June? -
Rs 45/Share Dividend: Record Date In Due Course; Buy The IT Stock For Dividend Eligiblity? -
175% Dividend: TATA Group Stock Declares Q4 Results; Buy The Rekha Jhunjhunwala Portfolio Stock? -
2:15 Bonus: Tata Group's Penny Stock Below Rs 90, Gives 2,821% Returns In 5 Years: Announces Q4 Report Card -
Rs. 240/Share Dividend: May 7 Fixed As Record Date; Buy The IT Stock To Be Eligible? -
1:5 & 1:2 Split, Rs 6/Sh Dividend: Fertilizer Stock Coming Up With 600% Payout; Record, Payment Dates Fixed -
Cube Highways Trust Set to Acquire Seven Highway Assets Worth Rs 5,172 Crore -
1:10 Split, Rs 51 Dividend: Accumulate Tata Stock, TP Rs 170; Big Update On £1.25 Bn Investment -
Tech Mahindra Sets Three-Year Plan for Robust Growth and Market Leadership by FY27 -
Tech Mahindra Q4 Net Profit Falls 41%, Announces Growth Strategy
Bitcoin Price Surge Above $10000 Ahead Of Bitcoin Halving
On Sunday, the price of most popular cryptocurrency Bitcoin surged past the psychological level of $10000. As per CoinMarketCap, last time it scaled above this mark was on September 23, 2019. Experts see its prices to scale further. In a tweet Morgan Creek Digital Co-founder and Partner Michaël van de Poppe said, Bitcoin just hit $10,000. I still think that Bitcoin will hit $100,000 by the end of December 2021. Fixed supply. Increasing demand. Time will tell".
In another tweet, Co-founder and CEO at BitMEX tweeted said, "Nothing can stop me, I'm all the way up! Slow and steady wins the race. Let's take the staircase up to #bitcoin $20k".
The sudden sharp surge in bitcoin's price is attributed primarily to an upcoming event in May of bitcoin halving. Notably, a total of 21 million bitcoins can be mined and of these 18 millions have already been mined. The number of new bitcoin that make way to the market will be falling on a year on year basis, resulting in lesser supply and hence higher prices. As per Cointelegraph, the halving event will "cut its supply further to a rate of around 1.7 per cent per annum".
In Indian rupee, the crytocurrency is valued at Rs. 7.25 lakh per bitcoin.
During the last SC hearing, the RBI said that the digital currency Bitcoin is not banned in India, nonetheless regulated entities including banks have been cautioned against the risks associated with dealing in such digital assets. "Cryptocurrency can be used for secret and illegal activities, but there is no data to corroborate that it is primarily being used for such activities", Anurag Thakur, MoS Finance told in Rajya Sabha in July last year.
GoodReturns.in
