Bitcoin is the classic bubble, produces no value: Raghuram Rajan
Former Reserve Bank of India (RBI) Governor Raghuram Rajan said Bitcoin's recent rise is an example of bubblish behaviour by markets. "Bitcoin reached $40,000 after being at $10,000 last year. It is the classic bubble...it produces no value," he said. He also remarked that people are buying Bitcoin because they think "it will go up", which is "bubblish thinking".