Rakesh Jhunjhunwala backs proposed Bitcoin ban

Joining the chorus of sceptics against the digital currency billionaire investor Rakesh Jhunjhunwala while speaking to an international business channel said he was not interested in joining the highly speculative Bitcoin party as the hangover is likely to be much worse.

Talking to the hosts of Street Signs Asia , Rakesh Jhunjhunwala backed the plan for regulators in India to ban Bitcoin and put the focus solely on the digital rupee.

The big bull continued his denunciation of the digital token as he called it speculation of the highest order. Meanwhile global prices of Bitcoin have been crashing over the last 3 sessions, down over 18% in Tuesday’s trade as well.