Pradeep Bhandari, an Indian journalist, politician, and national spokesperson for the India’s ruling party Bharatiya Janata Party (BJP), has advocated for a “measured Bitcoin strategy” in India.
In an article titled “US Bitcoin Reserve signals a shift: An opening for India” published on India Today, Pradeep Bhandari wrote: “As the US advances and nations like Bhutan adapt, India has a unique opportunity to lead.”
He belives that “a measured Bitcoin strategy (pilot) … could strengthen economic resilience.”
Why Should India Build A Strategic Bitcoin Reserve: Key Highlights and points made by Pradeep Bhandari
Global Trendsetters Lead the Way
- The U.S. Strategic Bitcoin Reserve, started in January 2025, now holds over $20 billion in Bitcoin, mainly from 200,000 seized coins, used as an inflation buffer.
- Several U.S. states have passed legislation permitting public funds to be held in Bitcoin, signaling institutional acceptance.
Learning from Bhutan
- Since 2021, Bhutan has mined Bitcoin using hydropower, building a $1 billion‑plus crypto reserve that funds public services and green initiatives .
- India, with its abundant renewable energy resources, could replicate and scale this model—subject to regulatory and infrastructural frameworks .
Bitcoin’s Economic Merits
- As a decentralized asset with a fixed supply (capped at 21 million coins), Bitcoin functions similarly to gold, but with 24/7 liquidity and transparent blockchain records.
- Its programmable, portable nature makes it well-suited for the digital economy and future‑focused demographics.
Regulatory Clarity Imperative
- Currently, India’s crypto stance is “taxed but unregulated.” Bhandari emphasizes the need for a clear legal framework to facilitate institutional adoption.
- India chaired the G20 crypto working group in 2023, and with Bitcoin now classified as a “capital asset” by the IMF, the policy window is open.
A Pilot Reserve Could Signal Leadership
Bhandari proposes a cautious reserve pilot—perhaps 5,000–10,000 BTC—funded through budget-neutral means, with secure cold storage and multi-signature safeguards.
This would enhance fiscal resilience, align with global initiatives, and position India as a digital finance leader.
Market takes it positively
Sumit Gupta, CEO of CoinDCX, welcomed Bhandari’s initiative, urging India to seize its opportunity in the “Web3 wave”.
Within hours of Bhandari’s comments, BTC‑INR trading volumes spiked on all the leading crypto exchanges. Bitcoin was trading at INR 9,500,000 ($110,794) at CoinDCX at the time of writing.
