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Bitcoin tumbled more than 4 percent on Friday after Turkey’s central bank banned the use of
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Electric vehicle manufacturer, Tesla invested $1.5 billion in the popular cryptocurrency, Bitcoin. Tesla had disclosed
Read MoreBoth electric vehicle manufacturer, Tesla and Bitcoin have given massive returns to investors off late.
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Bitcoin has had a stellar run this year, after recently scaling the $20,000 summit. It is now trading at $26,500 after having hit an all-time high of $28,000. Seeing this growth, the government too wants a piece of the action and is mulling over imposing 18% GST on Bitcoin trade. This move is a U-turn from the government’s previous stance where it had declared Bitcoin as being illegal. Imposing a tax on cryptocurrencies would legitimize all transactions and increase the acceptance and usage of cryptocurrencies.
Read MoreEarlier this week, Bitcoin scaled new heights to touch a fresh all-time high of $20,696. It has taken Bitcoin 11 years to reach this major milestone. In late 2017 Bitcoin attempted to cross the $20,000 landmark, however, it spectacularly collapsed from the mid-$19,000 to $3,400 within a year.
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