The post Will India Launch Bitcoin Reserve? appeared first on Coinpedia Fintech News
As the United States pushes forward to become the global leader in cryptocurrency, several other countries follow in its footsteps. Driven by new political interest and a global trend, India’s ruling party, the BJP, signals towards forming a Bitcoin Reserve. National spokesperson Pradeep Bhandari argued that India could benefit from adopting a BTC reserve.
BJP Urges to Establish Bitcoin Reserve in India
Recently, Pradeep Bhandari, the spokesperson of the BJP, urged that India’s financial policies must evolve to adapt more flexible and innovative framework. This method will aim to bring financial growth and prosperity to the country, according to Bhandari. He stated–
“India stands at a pivotal juncture. A measured Bitcoin strategy—perhaps a reserve pilot—could strengthen economic resilience and project modernity. As the US advances and nations like Bhutan adapt, India has a unique opportunity to lead.”
Bhandari’s Argument for the Possibility of BTC Reserve in India
Bhandari points out several significant points that signal the possibility of a future Bitcoin reserve in India.
Renewable Energy Capacity
- He noted that India has the full capability to mine Bitcoin, following Bhutan’s mining initiative. Bhutan mines Bitcoin, using hydropower, building a reserve exceeding $1billion by Q1 2025.
- Bhandari suggests that India could follow this framework, as India has even bigger renewable energy potential than Bhutan.
US Model
- Bhandari noted that the US benefited by launching its Bitcoin Reserve and now holds over $20 billion in value. India could benefit from a pilot reserve strategy based on the US model, he proposed.
[post_titles_links postid=”475206″]
Urged India to Step Up
- While BRICS nationals and other countries are showing interest in crypto agendas, India still hesitates in the crypto space.
- Bhandari urged India to launch a Bitcoin reserve as it will help increase the global competition.
Support From Crypto Leaders For BTC Reserve
CoinDCX CEO, Sumit Gupta, thanked Bhandari for bringing this proposal of BTC reserve. He stated–
“For years, many of us in the industry have advocated that crypto is more than just a financial instrument; it’s geopolitical, economic, and strategic. Seeing our policymakers engage with this reality is both validating and encouraging!”
Final Note
While urging the nation to build a BTC reserve, Pradeep Bhandari ensures that this is not a reckless pivot but a calculated step to embrace digital assets. While crypto experts suggest India to test Bitcoin as a sovereign asset, the central question remains unanswered– Will India establish a Bitcoin reserve? After encountering multiple crypto updates, the possibility of a BTC reserve speaks volumes.
[article_inside_subscriber_shortcode title=”Never Miss a Beat in the Crypto World!” description=”Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.” category_name=”News” category_id=”6″]
FAQs
India’s stance on crypto is evolving. While owning and trading crypto is legal and there’s a large user base, the government imposes high taxes (30% on gains, 1% TDS) and prohibits crypto as legal tender for payments, creating a “cautious” environment rather than fully friendly.
India imposes a flat 30% tax on crypto gains and a 1% TDS on transfers over ₹10,000, with no loss set-off.
Cryptocurrencies are not legal tender in India but are legal to hold and trade within a regulated tax and compliance framework.
