Why is this Billionaire Pushing for Crypto Ban in India?
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Rakesh Jhunjhunwala is a Multi Billionaire from India who has recently come out and openly hoisted his voice in favor of the Crypto Ban in India. He has also stated that the Government of India should focus on their Digital Rupee and Ban any other Cryptocurrencies. Now it doesn't take a Rocket Scientist to calculate and figure out that if Crypto is banned in India the Government will most definitely lose Billions in Tax Money from both Exchanges and Indian Citizens. So how come a guy who has made Billions in the Stock Market ignore such a huge Economical Boom.
If I have to guess I would say that Rakesh Jhunjhunwala did see the benefits of not banning Crypto in India but at the same time he could also see that by not banning Crypto the whole Industry that he invests Money in could turn upside down.
Blockchain and Cryptocurrency have the power to grant any Industry a clean slate and all companies can start once again from Zero, which means the Companies that are currently at the top of every ranking might not be there 5 years later which in turn means his Investments might be at Risk. I know this is a little far fetched theory but I just can't shake this thought out of my mind that Billionaires who are comfortably sitting at the top doesn't want to shake anything as they are the people on Top and they are at Risk of Falling down if somebody shakes things up.
How are you my friend? I want to ask you why you stopped supporting me while you are constantly supporting me. Is there a reason behind this?
Hi @arunava
I do understand people who think the way this person does. After all, we all care about our own goals and wealth in the first place.
I really don't understand why some people are just against cryptocurrency! It's really not making sense to me. I believe in crypto and many other people also believe in it. We also have top companies investing in cryptos too so why the panic from some people?
Thanks for sharing this great post with love from @hardaeborla and I hope you have a great day ahead ❤️💕💓
I wouldn't want to be so blunt about my answer here but then I just feel that some of these rich men are scared of losing their title and influential position of wealth so they are scared that if cryptocurrency is not banned it might make them lose their position of affluence.