Grayscale Bitcoin Trust (GBTC)

[Tenured]

Yes that's the article. They don't recognize it as legal tender but still embrace blockchain ( go figure).

India was a country that bitcoin supporters likely wanted to officially adopt as a currency but if you do some research you find that Indias government is totally manipulating their own currency (exactly what bitcoin is designed to prevent). They removed a lot of smaller denominations last year and its crushing the population and economy. People there had turned to bitcoin which undermined the governments recent action. Thus it's no surprise they are taking a formal stance now. Bitcoin is on everyone's lips now. India can't destroy bitcoin since India never really officially embraced bitcoin as a currency to begin with(same with Venezuela).

That's like me quitting a job at a store that I don't work for! LoL.

Again it's bad news and will temporarily hurt bitcoin but those in the know understand the real
"Impact".