Category Archives: Research
The controversial cryptocurrency bitcoin is starting to gain wider acceptance in the international economy, though many countries are still wary.
In December of 2013, the Indian Central Bank chose not to regulate the currency but warned people they shouldn’t trade in bitcoin or any other cryptocurrency.
Shortly after that announcement, a bitcoin information site (rbitco.in) and a Bitcoin Exchange (BuySellBitCo.in) were closed down by the enforcement wing of the Central Bank.
All this happened prior to the widely publicized collapsed of Mt. Gox, one of the largest Bitcoin exchanges in the world.
The collapse led some skeptics to question the viability of bitcoin.
WATCH PROFESSOR CAMPBELL HARVEY EXPLAIN BITCOIN
That is just one of the findings of the latest Duke/CFO Magazine Global Business Outlook Survey, which polled CFOs from around the world, including 36 in India.
About 33 percent of Indian CFOs say the bubble will likely reach its breaking point this year. Slightly more than half of the surveyed CFOs say the impact of a bubble burst would be medium to high.
The numbers jump when considering Asia as a whole (153 CFOs, including India and excluding Japan). Almost 75 percent of surveyed CFOs believe a bubble exists in their countries. Thirty percent of surveyed CFOs believe the bubble will burst this year, and about 70 percent believe a burst would have a medium to large impact on the country’s economy.