RBI’s Shaktikanta Das said investors investing in crypto should keep in mind these cryptocurrencies do not have an underlying, not even a tulip.
In a major burn moment for crypto investors, Reserve Bank of India Governor Shaktikanta Das took a dig at it implying that crypto asset investments are even worse than tulip bubbles during the infamous tulipmania. Investors investing in crypto should keep in mind that the money they are investing is at their own risk and these cryptocurrencies do not have an underlying, not even a tulip, the RBI governor said, ostensibly referring to tulipmania of 17th century when prices of tulip bulbs soared higher than annual income of skilled workers at that time. RBI Governor at the press conference after the policy announcement said it is his duty to warn investors.
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