BJP spokesperson Pradeep Bhandari has called on the central government to consider creating a strategic Bitcoin reserve, emphasizing the changing global attitude towards digital assets.
Global Shift in Bitcoin Sentiment
Bhandari's call coincides with the US decision to incorporate Bitcoin into its balance sheet. He believes this sets a new global precedent for other countries. "This isn’t a reckless pivot, it’s a calculated step toward embracing digital assets’ legitimacy," Bhandari insists.
Market Players: The US and Bhutan
In January, the United States transformed approximately 200,000 seized Bitcoins into a buffer against inflation, currently valued at over $20 billion. Bhutan has also been mining Bitcoin since 2021, using surplus hydropower to amass assets exceeding $1 billion.
Advantages of Bitcoin
Bitcoin fundamentally differs from fiat currency and gold. It is capped at 21 million coins, creating engineered scarcity that many see as a reliable store of value. Bitcoin operates independently of central banks and runs on a decentralized network, meaning no single authority can rewrite the rules.
As global markets rapidly change, digital assets like Bitcoin are showing their advantages. There is room for such a model to be adapted in India; however, a clear crypto policy is necessary to unlock its full potential.
