Crypto-Mania Continues! Bitcoin Scales New Highs; Is $150,000 On The Cards? What’s Ahead For Crypto?

Bitcoin's resurgence has once again captured attention, with its price soaring to over $70,000 this month from $28,000 just a year ago, marking a staggering rally of more than 150% in this fiscal year alone. However, amidst this crypto frenzy, investor guru Jim Rogers, renowned for his expertise in commodities like gold and silver, remains deeply sceptical about cryptocurrencies' long-term prospects. Speaking at the India Today conclave, Rogers expressed his reservations, stating, "I'm very sceptical of crypto. I don't expect it to last. It's been fabulous for some people now. Not for me, but I do not see any long-term value in cryptocurrency." Rogers predicted the eventual demise of Bitcoin, stating, "Bitcoin will disappear and go to zero someday." He contrasted this with the enduring value of commodities like sugar, saying, "The value of sugar is not going to disappear and go to zero someday." Meanwhile, Finance Minister Nirmala Sitharaman said crypto cannot be currencies. “Currencies are to be issued with the fear of the government or the central bank, so that is a different story. So if they're coming back, this resurgence, that is the asset which is being created for speculation or for trading or for whatever purpose, and it is still unregulated in India.” So what is the future for crypto? Is this another bubble that is building up again or is this rally based on some fundamental change? To answer these and more questions, we are joined by Sumit Gupta, Co-founder, CoinDCX and Parth Chaturvedi, Investments Lead, CoinSwitch in conversation with Siddharth Zarabi, Managing Editor, Business Today TV.