The US president-elect Donald Trump and his advisor Elon Musk throwing their weight behind crypto resulted in Bitcoin shooting through the $1,00,000 mark in December. This was a dramatic comeback after the collapse of the crypto exchange FTX in 2022, which resulted in losses of billions of dollars.
One fallout of the 2008 financial crisis was a deep mistrust of the banking system around the world. When the first successful digital currency, Bitcoin, appeared in 2009, it was perceived as a bid to circumvent regulation that was seen as ineffective and cumbersome. It was believed that cryptocurrencies would allow greater transparency and security in financial transactions.
But as a quintessentially disruptive technology, its credibility today divides experts and laymen. While many still think of it as a game of smokes and mirrors, it's endorsed by tech-savvy younger generations. At present, the global cryptocurrency market is worth around $3 trillion.
In the context of this market volume, the intrinsic value of cryptocurrency is relevant. Cryptocurrency is basically a piece of programming software; its value is linked to its momentum of exchange and its perceived investment potential. For Bitcoin, the value is also attributed to the fact that out of the 21 million available, some 19 million have already been mined.
This story is from the January 05, 2025 edition of The New Indian Express Mysuru.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 05, 2025 edition of The New Indian Express Mysuru.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
MRPL Reports 28% Decline in Net Profit to ₹304 Crore
Mangalore Refinery and Petrochemicals Limited (MRPL) reported a 28% decline in its net profit to ₹304 crore for the third quarter of FY25.
Axar Steps Into A New Role
Now part of the leadership group, the all-rounder doesn't feel the need to prove to anyone
Pragg wins; Gukesh draws
INDIAN Grandmaster R Praggnanandhaa defeated compatriot P Harikrishna, while Arjun Erigaisi settled for a draw in the second round of the 87th Tata Steel Chess Tournament here.
SA20: Sunrisers enter play-offs
SUNRISERS Eastern Cape defeated Durban Super Giants by six wickets to enter the playoffs of the SA20 here.
Will be key player in electric 3-wheeler market: TVS
CHENNAI-based auto major TVS Motor has set its sight on becoming a key player in the rapidly-growing electric three-wheeler market within the next three quarters.
U'KHAND CABINET CLEARS UCC RULES
THE Uttarakhand Cabinet on Monday approved the Uniform Civil Code's (UCC) regulations, close to a year after the legislation was passed by the state assembly.
Meghalaya Mob Attempts to Attack School, Curfew Imposed
CURFEW was clamped in areas falling under the Mawkynrew village in Meghalaya's East Khasi Hills district on Monday following an incident of mob violence involving a school.
NIMAS team finishes Arunachal leg of Brahmaputra rafting expedition
A team of the National Institute of Mountaineering and Adventure Sports (NIMAS) has achieved a milestone by completing the Arunachal Pradesh leg of the historic Brahmaputra River Rafting Expedition.
Govt Selects 24 Cos Under PLI Scheme For White Goods
The government has selected 24 companies under the third round of the production-linked incentive (PLI) scheme for white goods.
Army Man Killed in Encounter in J&K's Sopore
A soldier has been killed in the ongoing gunfight between militants and armed forces in Zaloora, Sopore area of Jammu and Kashmir's Baramulla district on Monday.
