Bitcoin’s rally in 2020, rising 1.5 times so far this year, has piqued investors’ and financial services providers’ interest. And Indian banks are taking note as the crypto currency nears its all-time high of $20,000.
They are now option like providing finance to crypto exchanges, loans against bitcoin and so on, to cash in on this opportunity. The sharp bitcoin rally this year has been attributed to several developments in the past month. The most prominent among them is decision of PayPal, the largest payment company by market cap, to allow the transfer, purchase.