Bitcoin is a classic bubble, no value: Raghuram Rajan

Bitcoin is a classic bubble, no value: Raghuram Rajan
 Bitcoin is a classic bubble, no value: Raghuram Rajan

Former Reserve Bank of India (RBI) Governor Raghuram Rajan said that the recent growth of bitcoin is an example of indifferent behavior towards markets.  "Bitcoin reached $ 40,000 after being $ 10,000 last year. It's a classic bubble ... it has no value," he said.  He also commented that people are buying bitcoins because they think "it will go up", which is "bubbly thinking".

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