After Modi government’s decision to demonetise high-value currency notes has left Indians scrambling for alternative payment and investment options, the demand for new-age cryptocurrency options has seen a surge. For this and other reasons, Bitcoin, the largest and oldest of cryptocurrencies, is trading at a huge premium in the country.
On Indian exchanges, the Bitcoin prices are being quoted at 25-28% higher than cost. The interest among people here has been fuelled mainly by the government's demonetisation move.
On Nov 8, the international cost of one Bitcoin, when converted into rupee, stood at Rs 46,942. So, the difference between the cost and trading quote came to about 10%. Compared with that, the trading price at present is at Rs 64,000, while the international price is around $740 (about Rs 51,000), a difference of over
Several people are interested to buy bitcoin for investment purpose.So price is high for the reason buyers or more than sellers.Indian exchange price
International Bitcoin price Rs 51,000( $ 742 )
Unocoin ---- Rs 65,565
Btcxindia ---- Rs 65,320
Zebpay ---- Rs 64,450
Coinsecure ---- Rs 64,800