Many feel that someday in the future bitcoin will be stable and would have the characteristics of a good currency. In this week, Elon Musk also made an announcement of purchasing electric vehicles with bitcoin. There is no doubt that many investors are looking to invest in cryptocurrencies. At the same time we can not ignore the fact that central banks need control over the supply of currency in order to control inflation. The good news is that indian government seems to be positive on cryptocurrencies. The companies will now have to disclose profit or loss on transactions involving cryptocurrency or virtual currency and the amount of holding.
Even though cryptocurrency isn’t managed by a central system like a government and is based on blockchain technology, the government’s move can certainly boost investments in crypto currencies.
By Team Livestockrates