“On January 22nd, 2021, Bengaluru Police allegedly tried to recover 186 Bitcoins from Sri Krishna (as reflected in the third Panchnama). According to the Bengaluru Police, the 31 and 186 Bitcoins were never transferred,” he said.When questioned about Bommai’s assertion that those who have evidence could give it to the ED, Surjewala said, “The Enforcement Directorate has become the Election Department of the BJP. The ED, Karnataka Police are not competent to probe the Bitcoin scam, which is an international crime. That’s why we demand a SIT probe with expert investigators and monitored by a sitting SC judge.”What is Cryptocurrency:A cryptocurrency (or “crypto”) is a digital currency that can be used to buy goods and services but uses an online ledger with strong cryptography to secure online transactions. Much of the interest in these unregulated currencies is to trade for profit, with speculators at times driving prices skyward.The most popular cryptocurrency, Bitcoin, has had volatile price moves this year, reaching nearly $65,000 in April before losing nearly half its value in May. By mid-October, the price had risen rapidly again: it hit an all-time high above $66,000 before falling back slightly.Cryptocurrencies appeal to their supporters for a variety of reasons. Here are some of the most popular:Supporters see cryptocurrencies such as Bitcoin as the currency of the future and are racing to buy them now, presumably before they become more valuableSome supporters like the fact that cryptocurrency removes central banks from managing the money supply since over time these banks tend to reduce the value of money via inflationOther supporters like the technology behind cryptocurrencies, the blockchain, because it’s a decentralized processing and recording system and can be more secure than traditional payment systemsSome speculators like cryptocurrencies because they’re going up in value and have no interest in the currencies’ long-term acceptance as a way to move money
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