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Is Assam famous for petroleum or coal?

Assam has abundant mineral resources coal, petroleum, limestone and natural gas are the principal mineral resources. It is also the largest producer of crude oil in India. Other minor minerals include magnetic quartzite, silimanites, iron, ore clay and fredspar etc. Oil India Limited (OIL) is the second largest hydrocarbon exploration and production Indian public sector company with its operational headquaters in Duliajan, Assam. India under the adminstrative control of the Ministry of Petroleum and Natural Gas. Assam is a major producer of crude oil and natural gas in India. It was the second place in the world where petroleum was discovered. Asia's first sucessful mechanically drilled oil well was Makum (Assam) way back in 1867. The second oldest oil well in the world still produces crude oil. One of the biggest public sector oil companies in the country. Assam has four oil refineries located at Guwahati, Digboi, Numaligarh, and Bongaigoan with total capacity of 7 MMT

Bitcoin breaks all-time high, tops $50,000 for the first time.

Bitcoin price at a historic high of $50,000 just one day after breaking the $56,000 mark! 440 percent benefit from cryptocurrencies for holders.

The price of Bitcoin has exploded from record to record. And if the year 2020 was the year of COVID-19, it was the year of Bitcoin, too. It is also the year that Bitcoin has come of age. Not only does Chris Wood talk about Bitcoin price success in the Greed & Fear study, but obviously it was amazing with the cryptocurrency up 474% from the lows of March and 214% year to date, including a 9.2% rise yesterday even though Greed & Fear was in the works! Significantly, what Greed & Fear means is that Bitcoin has been invest able this year for institutions with available custodian agreements and with influential investors and even institutional investors announcing that they have acquired it. One Bitcoin price is $50,147.40 today.

In this respect, Bitcoin has now become part of the structure, with opportunities for institutional investors to purchase through quoted vehicles, be it the Gray scale Bitcoin Trust in America or the newly introduced VanEck Vectors Bitcoin ETN traded on the Frankfurt Stock Exchange.

This is significant since there was still the possibility that Bitcoin accounts might be compromised before such arrangements were in place. The other danger, of course, being that because it was used for nefarious activities, such as illegal narcotic sales, Bitcoin will be deemed illegal.

Then in mid-August and September, the Nasdaq-listed Micro Strategy, a business intelligence software company, announced that it had invested almost 100 per cent of its own treasury funds in the Bitcoin equivalent of US$425 million (US$250 mm in August and US$175 million in September).

The aim is to make Bitcoin the "primary treasury reserve asset" on a continuous basis, along with cash and short-term deposits, according to the official US Securities and Exchange Commission (SEC) Form 8-K. Micro Strategy spent another US$ 50M in Bitcoin in early December, with a combined holding of 40,824 Bitcoins.

Stock prices are on the rise, gold has flattened, but it is always at a high level and is still threatening to cross the Rs 50,000 mark. The main shock is not however from other usual asset groups, but from a cryptocurrency – Bitcoin! And this is amid the fact that Bitcoin's poor terms have been frowned upon by the authorities. Today, the Bitcoin price soared to a record high just one day after the first landmark of the US$20,000, with bigger investors increasing interest.

Bitcoin is the top profile cryptocurrency in the world, and its price soared by 10.5% to 29.555 dollars, bringing its 220 percent rise this year, propelled by the desire of big investors drawn by their fast gains opportunity and their presumed inflexibility.

The smaller coin ethereum, which mostly travels in parallel with bitcoin, was 1.75 percent higher. With Bitcoin's supply capped at 21 million, investors see the cryptocurrency as a buffer against inflation danger as policymakers and central banks shift to stimulus taps in reaction to the COVID-19 pandemic.

"There will be a search for alternative currencies due to constant fiat money debasement," Deutsche Bank analysts wrote in a statement. "It does feel that bitcoin will continue to be in high demand."

Cryptocurrencies

Cryptocurrencies arose about a decade ago but were soon connected to crime, traffic in vulnerabilities, hacks, and crazy price volatility. It's only in the last few years that they've began to draw more media attention.

The smaller coin ethereum, which moves more in tandem with the bitcoin, was 1.75% higher. With Bitcoin's supply restricted at 21 million, investors see cryptocurrency as a hedge against inflation threat as policymakers and central banks turn to stimulus taps in response to the COVID-19 pandemic.

"There will be a search for alternative currencies due to constant fiat money debasement," Deutsche Bank analysts wrote in a statement. "It does feel that bitcoin will continue to be in high demand."

Cryptocurrencies emerged about ten years ago but were quickly related to crime, traffic in bugs, hacking, and crazy price volatility. It's only in the past few years that more public interest has started to be attracted.


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