The influx of ideas about cryptocurrencies in India continues to grow. Pradeep Bhandari, a spokesperson for the ruling party, called for the launch of a pilot Bitcoin reserve program in the country.
Introduction to the Initiative
Pradeep Bhandari, the national spokesperson of India’s ruling party, has proposed launching a Bitcoin reserve pilot program, arguing that the country needs to strategically move towards Bitcoin.
Comparison with Initiatives in the USA and Bhutan
According to Bhandari, the establishment of a strategic Bitcoin reserve in the USA and Bhutan's national mining initiatives present a significant window of opportunity for India. The Bitcoin reserve in the USA, launched under President Donald Trump's administration in January 2025, has already exceeded $20 billion. Bhutan, for its part, has been mining Bitcoin with hydroelectric resources since 2021 and accumulated a reserve of over $1 billion as of May 2025.
Regulatory Challenges for India
Despite India being significantly ahead of Bhutan in terms of renewable energy capacity, regulatory infrastructure and institutional readiness remain a challenge. The country applies taxes on cryptocurrencies but lacks clear regulations. The classification of Bitcoin as a capital asset by the International Monetary Fund emphasizes the need for a clear legal framework in India.
Bhandari's remarks about creating a Bitcoin reserve highlight potential opportunities for India in the cryptocurrency space but require addressing existing regulatory challenges.
