NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

Prime Minister of India Calls Increased Adoption of Digital Currency

Gautham
Gautham
3 years ago
2 mins read
Coinsecure Has Big Plans For Bitcoin In India And Hires Elizabeth Ploshay McCauley. newsbtc

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

[vc_row][vc_column][vc_column_text]India recently made it to the news by doing the unthinkable — declaring two of its existing large denomination currency notes invalid. The move effectively removed an estimated 80 percent of the currency notes out of circulation drastically affecting the country’s economy. The government insists that the move will root out unaccounted cash and counterfeit currency, which is debatable. However, on the brighter side, the government’s move is expected to ease the country towards a cashless economy.

In his recent address, the Prime Minister of India — Narendra Modi defended his move by calling for increased adoption of digital payments. He went on to say,

“It is not necessary for the people of India to conduct their transactions with wads of cash in hand. Instead, they can make use of the digital payments facilities to spend the money which is rightfully theirs.”

He appealed to the country’s citizens to make use of mobile payment applications and online banking facilities to conduct transactions at the time of cash crisis. The “demonetization” move has increased the interest in Bitcoin among many Indians. The sudden surge in demand for digital currency has increased the price of one bitcoin by over $200 in the domestic market.

The Prime Minister stressed upon the need for transparency in the Indian economy and the only way to do it is by gradually moving towards digital currency. However, by referring to digital currency he meant electronic payments and definitely not cryptocurrencies like Bitcoin. In a country where most transactions happen in cash, the government’s move has affected businesses and individuals alike.

The sudden demonetization move has also made the disadvantages of government controlled fiat currencies evident. As people struggle to exchange their now invalid banknotes for the valid ones, the need for a global currency like Bitcoin that is not at the mercy of the whims and fancies of the government has emerged. Hope people get the idea and start using Bitcoin and other cryptocurrencies instead of fiat, which can, at any time serve as an instrument of propaganda for the government to serve its own needs, against the best interests of the citizens.[/vc_column_text][/vc_column][/vc_row]

Tweet123Share196ShareSend
Gautham
Gautham

Gautham

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Total Illiquid Bitcoin Has Reached 72% Of Supply, What Does This Mean For Price?

The total illiquid Bitcoin has reached a new high, providing a bullish outlook for the flagship crypto. This refers to...

Scott Matherson 6 hours ago
Bitcoin

Bitcoin Is ‘Digital Capital’ That Outpaces Traditional Assets—Michael Saylor

Strategy’s long-running bet on Bitcoin remains at the heart of the debate over the asset’s place in finance. Based on...

Christian Encila 8 hours ago
XRP

Pundit Predicts XRP Price Crash Below $3, Here’s Why

Crypto pundit and legal expert Bill Morgan has humorously predicted that the XRP price will drop below $3. He ironically...

Scott Matherson 10 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Chainlink

Chainlink Bulls Eye $30 Target But Must First Overcome Crucial Resistance

Semilore Faleti 1 hour ago
Litecoin

Litecoin Price Compresses In Tight Falling Wedge, Breakout Ahead?

Godspower Owie 3 hours ago
Bitcoin

Bitcoin Network Activity Hits New 2025 Peak — What This Means For Price

Opeyemi Sule 4 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    12 hours ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Cele mai bune altcoin-uri de cumpărat, pe măsură ce...

    13 hours ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Cele mai bune meme coin-uri de cumpărat acum, pe măsură...

    13 hours ago
  • Cele mai bune meme coin-uri de cumpărat acum, pe măsură ce capitalizarea pieței se apropie de 1,9 trilioane RON

    Nejlepší meme coiny k nákupu nyní, když se tržní...

    13 hours ago
  • Cele mai bune altcoin-uri de cumpărat, pe măsură ce prețul Solanei se apropie de maximul istoric

    Nejlepší altcoiny k nákupu, když se cena Solany...

    14 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.