Here's how bitcoin can reward you!

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Here's how bitcoin can reward you!
By Saikat Das, ET Bureau | Updated: Sep 21, 2017, 11.10 PM IST
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Investments in the digital currency have been rewarding for investors.
MUMBAI: The recent decline in Bitcoin prices should not rattle investors in India as its growing acceptance as an investment instrument foretells relevant local regulations that would provide a legal framework to the practice of trading in the cryptocurrency.
“New regulations may soon come up. The rising global acceptance of the blockchain technology by global financial institutions and government agencies has helped gain investor confidence,” said Praveenkumar Vijayakumar, CEO and Chairman at Belfrics Global. “Several government agencies are working on the evolution of blockchain and cryptocurrencies.”
Investments in the digital currency have been rewarding for investors, although the valuation slipped recently after Beijing regulators forced the closure of BTC China, one of the world's biggest exchanges for the Bitcoins. Otherwise, returns have quadrupled this year. The bitcoin-rupee swap rate is now trading around Rs 2.51 lakh, about four times higher than the December-end level of Rs 64,000, dealers said.