‘Not invested a single rupee in cryptocurrency’: Anand Mahindra

Indian business tycoon Anand Mahindra clarified about his investment in cryptocurrency, stating that he has “not invested a single rupee in cryptocurrency.”

The chairman of Mahindra & Mahindra group expressed shock and shared screenshots of a news report, which alleged that Mahindra, in a recent interview with a TV channel, said his number-one money-maker is a cryptocurrency platform called Bitcoin Era. “It’s the single biggest opportunity I’ve seen in my entire lifetime to build a small fortune fast,” the article quoted Mahindra as saying.

Further, the news report claimed that the business tycoon has urged everyone to check out the platform “before banks shut it down”.

Calling the article “completely fabricated & fraudulent” Mahindra said it took “fake news to a new level”. “Ironically, I’ve not invested a single rupee in cryptos,” he added in the tweet.

This is not the first time Mahindra has called out “fake news” items. Earlier in September as well, Mahindra shared a post which claimed that he recommended a “compulsory” stock market trading course in middle school education. “I’m flattered that some believe my statements are quotable & I’ve always believed in the power of social media to democratise information & share knowledge. But the downside is wrongly attributed quotes! I’ll do my best to call them out whenever possible…,” he had said.

More recently, Alphabet and Google chief executive officer (CEO) Sundar Pichai spoke about his cryptocurrency plans and revealed that he does not own any, adding that wish he did.

Last week, Apple CEO Tim Cook, revealed that he is a crypto investor and holds digital coins. Cook was answering Andrew Ross Sorkin, who was hosting the New York Times’ two-day online summit. The Apple CEO shared his thoughts on the hot topic of cryptocurrencies such as Bitcoin.

Meanwhile, Indian Prime Minister Modi called on all democratic nations to ensure that cryptocurrency doesn’t end up in the wrong hands and spoil the youth while speaking at the Sydney Dialogue. The PM said in his speech, “But we also face new risks and new forms of conflict across diverse threats, from sea-bed to cyber to space. Technology has already become a major instrument of global competition and key to shaping the future international order.”

India ranks second in terms of crypto adoption worldwide behind Vietnam, but ahead of countries such as the US, UK, and China, according to the 2021 Global Crypto Adoption Index by blockchain data platform Chainalysis.

Disclaimer: Cryptocurrency is an unregulated space and digital currencies are not backed by any sovereign authority. Investing in cryptocurrency comes with market risks. This article does not claim to provide any kind of financial advice for trading or buying cryptocurrency.

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