Bitcoin moved up in value — crossing $60000 in March 2021. It has been a bull run for a year where its value has appreciated by 80 per cent. Such a steep rise has made it a favourite topic of discussion for investors and financial analysts. One of the reasons for this spectacular rise is its acceptance by prominent organisations such as Tesla, PayPal, Visa, BNY Mellon, BlackRock, MasterCard. As cryptocurrencies are decentralised, these can be transferred through non-banking channels. Bitcoin supply is fixed and these are traded and registered on a ledger. Cryptos are still evolving, and these are early days.

As these are net regulated or issued by the government, its future is still uncertain. The Indian Bill that is proposed may affect the cryptos adversely. India can have its own digital currency issued by the RBI. China has already done this. Here trading happens on the blockchain.

A young nation such as India has attraction for cryptos. Dubious crypto transactions are a concern. RBI banned cryptos in 2018. However. the SC lifted the ban in March 2020. Since then crypto are being traded in India.