Bitcoins

Cryptos are back in vouge. Their prices have surged in the past two months — October, 2020 and November 2020. Bitcoins, ethereum and ripple are being dealt with vigorously. Investors have signed up with various crypto exchanges. Bitcoin is the most popular cryptocurrency. It has surged rapidly — to the extent of 80 per cent in Oct-Nov 2020. Bitcoin costs about Rs. 14 lac in November, 2020 (or $ 14000) but it can be bought in fractions by small investors. Investors are seeking high-yielding alternative assets especially when interest rates are declining across the world. Current rally could be due to MNCs tending to hold a part of their balance sheet in cryptocurrencies. Investors look to beat recession blues and grow their wealth during the pandemic. There is also the lack of supply side liquidity, especially on the exchanges. Smaller digital currencies too move in tandem with bitcoin.

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