India's largest news network: Bitcoin is the most valuable currency in the world

The recent continuous rise in the price of Bitcoin has attracted the attention of many mainstream media, including Zee News, one of the largest news networks in India with more than 150 million viewers. Recently, the media introduced the potential of Bitcoin and its global application, and made a prediction for its price. Sudhir Chaudhary, business director and senior editor of Zee News, suggested that the price of Bitcoin will reach $10,000 considering the rising demand for cryptocurrencies among the public.

In a live show to millions of active viewers, Chaudhary described Bitcoin as the "most valuable currency in the world" and said the Zee News network had decided to dedicate an entire show to discussing the Indian government's recent freeze on a Bitcoin exchange.

Chaudhary said:

“We are also working on this part because the Indian government is trying to freeze a Bitcoin exchange. Drug dealers are using Bitcoin and the Narcotics Control Bureau, a department of the Indian government, has seized 500 BTC from the exchange. Currently one Bitcoin is 45,000 rupees and the frozen amount is about 22.5 million rupees.”

Bullish on Bitcoin and Debt-Based Monetary Systems

Despite the Indian government’s crackdown on several of the country’s largest bitcoin exchanges, Chaudhary told a large audience that before criticizing the legality of bitcoin, its rapidly rising value must be noted and taken into account.

Chaudhary, who also hosts Zee News' Daily News & Analysis, was scathing about India's banks and current monetary system, noting that if 3% of the entire Indian population, or even a fraction of local bank customers, withdraw their cash, banks will not have enough funds to process the payments.

Chaudhary said:

“In fact, even if only 3% of people withdraw all their money from the bank, the bank will not have enough money to pay. The entire monetary system depends on the government and the banks. If a bank fails, then all your money may be lost. Bitcoin is an attempt to get rid of this regulatory and bank danger.”

More importantly, he stressed that bank customers could not rest assured, explaining:

"But when you deposit cash into a bank, the bank takes a large amount of your money and then lends it to other people. You can see the money in your bank account, but the reality is that the money is not there."

Ultimately, Chaudhary believes that Bitcoin offers the financial industry and its consumers actual control over their money, rather than the current system of monetary and banking services that rely heavily on the monopoly of governments and central banks.

This Indian media is openly bullish on Bitcoin. What do you think?