One lakh rupees invested in bitcoin in 2010 would be worth a few hundred crore rupees today. For further reading, visit “The Hindu”.
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Courtesy: The Hindu
Word List-2 (To Improve English Vocabulary)
- account for (phrasal verb) – explain, rationalize, provide a satisfactory answer for.
- dizzying (adjective) – confused, muddled, bewildered.
- bitcoin (noun) – a type of digital currency; cryptocurrency.
- meteoric (adjective) – rapid, lightning, fast/quick.
- stateless (adjective) – (of currency) not considered as a currency of any country.
- enthusiast (noun) – admirer, supporter; expert/wizard.
- blockchain technology (noun) – A technology by which a global network of computers jointly manage the database that records Bitcoin (a type of digital currency) transactions.
- exotic (adjective) – attractive, striking, unconventional (out of the ordinary).
- sceptic (noun) – cynic, doubter, questioner.
- tulip bubble (noun) – tulipmania, tulip fever; In 17th Century, the people of Dutch Republic traded the (tulip) flower’s bulbs for extraordinary sums of money, until, without warning, the market for them spectacularly collapsed leaving many people in financial ruin. This is considered as the first example of an economic bubble. [In botany, a bulb is structurally a short stem (with fleshy leaves or leaf bases) that stores food/energy for the plant’s growth].
- underlying (adjective) – fundamental, basic, essential.
- virtually (adverb) – effectively, practically, almost/nearly.
- walk of life (phrase) – class, status, rank (of a person within society).
- starve (verb) – deprive of something necessary.
- yield (noun) – profit, gain, return/revenue.
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