Rakesh Jhunjhunwala on Bitcoin: Stock market veteran Rakesh Jhunjhunwala has given a big statement on popular cryptocurrency bitcoin. He says that he will never invest money in Bitcoin or any other cryptocurrency. They have demanded the government to ban cryptocurrency. He said this in a conversation with CNBC. At the same time, he appeared bullish about the stock market in this interview and said that by 2030, the Nifty can reach 90,000 to 100,000 levels. That is, the Nifty 50 can increase about 580 percent from the current level.
Demand a complete ban
Jhunjhunwala reported the flaws of cryptocurrency on Tuesday. He also asked the regulators to ban it completely. Speaking to CNBC, he said that I believe the regulators should intervene and stop it. There is too much betting. Jhunjhunwala said that he will never buy bitcoin even if he gets it for $ 5. Let us know that the price of bitcoin is still around 56 thousand dollars. Only the government has the right to launch such a currency
Market confidence
According to Rakesh Jhunjhunwala, within 10 years the Nifty can touch the level of 1 lakh. This is not the first time he has made such a prediction on the market. Earlier in 2014, he said that the Nifty 50 could show a level of 1,25,000 by 2030. He said that India may be shocked by the stock market boom. Market depth will depend on several sectors. People are underestimating the changes that are happening in India.
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Long term no worries
Rakesh Jhunjhunwala says that in terms of long term, there is not much concern for the market. Talking about long term risk, India’s dispute with Pakistan is a big factor. On COVID-19, he said that he is not seeing the second wave of Corona virus in India. He said that now people and government are more alert about this. 85 per cent of the new cases are in only 2 states Maharashtra and Karnataka. In such a situation, I do not think there is a danger of a second wave in India.