{"id":36939,"date":"2021-02-24T11:19:36","date_gmt":"2021-02-24T09:19:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36939"},"modified":"2025-08-29T08:54:28","modified_gmt":"2025-08-29T05:54:28","slug":"indian-warren-buffett-warns-of-a-heavy-hangover-after-bitcoin-rally","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/indian-warren-buffett-warns-of-a-heavy-hangover-after-bitcoin-rally\/","title":{"rendered":"Indian Warren Buffett warns of a heavy hangover after Bitcoin rally"},"content":{"rendered":"<p><span style=\\\"font-weight: 400;\\\">An Indian billionaire and adherent of Warren Buffett\u2019s approach, Rakesh Jhunjhunwala, is convinced that the \u201cbitcoin party\u201d will end badly for its participants. He said this on<\/span> <a href=\\\"https:\/\/www.cnbc.com\/2021\/02\/23\/investing-billionaire-jhunjhunwala-says-india-should-ban-bitcoin-.html\\\" target=\\\"_blank\\\" rel=\\\"noopener\\\"><span style=\\\"font-weight: 400;\\\">CNBC<\/span><\/a><span style=\\\"font-weight: 400;\\\">.<\/span><\/p>\n<p>\\n<\/p>\n<p><!--more--><\/p>\n<p>\\n<\/p>\n<blockquote>\n<p><i><span style=\\\"font-weight: 400;\\\">\u201cIn my view this is top-tier speculation. I do not want to join every party in town. The hangover will be severe.\u201d<\/span><\/i><span style=\\\"font-weight: 400;\\\">, the investor predicted.<\/span><\/p>\n<\/blockquote>\n<p>\\n<\/p>\n<p><span style=\\\"font-weight: 400;\\\">The interview took place on the eve of a sharp market decline on February 23. On that day<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-hits-45000-as-market-capitalization-falls-below-900-billion\"><span style=\\\"font-weight: 400;\\\">the price of bitcoin reached $45,000<\/span><\/a><span style=\\\"font-weight: 400;\\\">, and the market capitalization of the leading cryptocurrency fell below $900 billion.<\/span><\/p>\n<p>\\n<\/p>\n<p><span style=\\\"font-weight: 400;\\\">Jhunjhunwala also backed the government\u2019s proposed bill to ban<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/indian-parliament-to-consider-bill-banning-cryptocurrencies\"><span style=\\\"font-weight: 400;\\\"> digital assets and work on<\/span><\/a><span style=\\\"font-weight: 400;\\\"> the creation of a digital rupee<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/india-weighs-launch-of-its-own-digital-currency\"><span style=\\\"font-weight: 400;\\\">.<\/span><\/a><\/p>\n<p>\\n<\/p>\n<p><span style=\\\"font-weight: 400;\\\">As ForkLog reported, Indian authorities are prepared to give cryptocurrency holders<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-india-to-allow-cryptocurrency-holders-to-close-positions-ahead-of-ban\"><span style=\\\"font-weight: 400;\\\">three to six months to close their positions<\/span><\/a><span style=\\\"font-weight: 400;\\\">.<\/span><\/p>\n<p>\\n<\/p>\n<p><span style=\\\"font-weight: 400;\\\">In April 2018, the Reserve Bank of India<\/span> <span style=\\\"font-weight: 400;\\\">banned<\/span><span style=\\\"font-weight: 400;\\\"> regulated institutions from providing services to individuals and companies related to cryptocurrencies. In March 2020 the Supreme Court of the country overturned the ban.<\/span><\/p>\n<p>\\n<\/p>\n<p><span style=\\\"font-weight: 400;\\\">Recently US Treasury Secretary Janet Yellen<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/u-s-treasury-secretary-janet-yellen-calls-bitcoin-a-speculative-asset\"><span style=\\\"font-weight: 400;\\\">criticised Bitcoin<\/span><\/a><span style=\\\"font-weight: 400;\\\"> and noted the need to create a digital dollar.<\/span><\/p>\n<p>\\n<\/p>\n<p>Subscribe to ForkLog updates on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Indian billionaire and adherent of Warren Buffett\u2019s approach, Rakesh Jhunjhunwala, is convinced that the &#8216;bitcoin party&#8217; will end badly for its participants. He said this on CNBC.<\/p>\n","protected":false},"author":1,"featured_media":36940,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1305,480,278,1138],"class_list":["post-36939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-ban","tag-bitcoin-price","tag-india","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36939"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36939\/revisions"}],"predecessor-version":[{"id":36941,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36939\/revisions\/36941"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36940"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}