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Demonetisation: Bitcoin trading at 25% premium in India amid high demand

Indians looking for alternative avenues for payments and investment

Bitcoin: What's in store for 2016
Bitcoin

At a time when the Narendra Modi government’s decision to demonetise high-value currency notes has left Indians scrambling for alternative payment and investment options, the demand for new-age cryptocurrency options has seen a surge. For this and other reasons, Bitcoin, the largest and oldest of cryptocurrencies, is trading at a huge premium in the country. The demand spike in India follows a similar trend in neighbouring China. In the past month, while the dollar strengthened, and the Chinese currency weakened to an eight-year low, the demand for Bitcoin in China increased ...