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As Bitcoin tops $11,000 level, investor interest in India on the rise

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  • As Bitcoin tops $11,000 level, investor interest in India on the rise

    • A Supreme Court ruling in March, striking down the Reserve Bank of India’s (RBI) ban on crypto payments imposed in 2018 has also acted as a tailwind for the cryptocurrency investment.

    Bitcoin prices surged past the $11,000 level on Tuesday, marking a steep recovery from its recent lows of around $5,000 in March 2020. The cryptocurrency was trading at around $10,972 at the time of writing this report on Wednesday.

    The covid-19 crisis had battered financial assets across the world in March, including cryptocurrencies. Along with the rebound in prices, interest in cryptocurrency in India has also staged a recovery, say experts. A Supreme Court of India ruling in March, striking down the Reserve Bank of India’s (RBI) ban on crypto payments imposed in 2018 has also acted as a tailwind for the cryptocurrency investment.


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    A Supreme Court ruling in March, striking down the Reserve Bank of India’s (RBI) ban on crypto payments imposed in 2018 has also acted as a tailwind for the cryptocurrency investment.
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