Find out what Raghuram Rajan said about the rise in shares of Bitcoin and Alan Musk's company Tesla

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New Delhi, 18 January 2021 Monday

Bitcoin, the world's largest cryptocurrency, and Tesla, Alan Musk's electric car company, have been the most talked about in Corona's time. That cryptocurrency is just a bubble, and the reason for the rise in Tesla stocks is small investors.

Rajan said that Bitcoin is a classical bubble, which has no value, it is an asset that cannot even be used for payment, as it is really difficult, as my friend Austan Goolsbee says that even at a Bitcoin conference they do not take Bitcoin payments. , Even though the price has reached 40 thousand dollars, and even though people are buying bitcoin, they think its price will still go up, this is bubbly thinking.

Similarly, Alan Musk's company Tesla, the world's richest man, has risen more than 700 percent in the last 12 months, making it the most valuable company in the world.

Regarding Tesla, Rajan said that it is appealing to small investors to make an immediate profit by investing in these stocks. There are also many stocks in India where investors feel that they can make money fast, recovering in markets around the world, and the reason. That's why investors are enthusiastic about all assets, and that's why the market is booming, that's why small investors are flocking to the market, and that's why the price of Bitcoin and Tesla's stocks are booming.

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