Indian Politician Proposes Bitcoin Reserve Trial, As US Embraces BTC
2025-06-28
India is starting to think seriously about using Bitcoin as part of its national plans. Pradeep Bhandari, a well-known politician and national spokesperson for the Bharatiya Janata Party (BJP), has suggested that India should test out having a Bitcoin reserve. This means the country could hold some Bitcoin just like it holds gold or foreign currency, as a backup for economic strength.
Bhandari says it’s time for India to look at how other countries are using digital money like Bitcoin and prepare a smart, careful plan of its own. He points to the United States and Bhutan as examples of countries already doing this. Let’s explore what this means for India and why it matters.
India’s Current Crypto Situation
Right now, India has a difficult relationship with cryptocurrencies like Bitcoin:
High Taxes: People who earn money through crypto have to pay a flat 30% tax. There’s also a 1% tax on every trade above ₹9,500 (about $115).
No Clear Rules: Even though people pay taxes on crypto, the government hasn’t made clear laws about how it can or can’t be used.
Global Role: In 2023, when India led the G20 group of countries, it helped start talks with the International Monetary Fund (IMF) about crypto rules. But many countries are moving ahead without waiting for an agreement.
Bhandari believes that while India has been watching carefully, it now needs to take action.
Read Also: Bitcoin Price Today - Live Updates and Market Insights
Why Propose a Bitcoin Reserve Trial?
According to Bhandari, India is in a good position to explore Bitcoin for a few reasons:
Renewable Energy Growth: India is building more green energy sources like solar and wind. These can power crypto mining in a clean and affordable way.
Smart Planning: He’s not asking India to jump in too quickly. Instead, he wants a pilot program, a small test, to see how a Bitcoin reserve could work.
Staying Competitive: Other countries are using Bitcoin and digital money more each year. India should not fall behind.
He also made it clear that the plan isn’t about taking risks. Instead, it’s a careful step to keep India strong in a fast-changing world.
What Are Other Countries Doing?
The US, Bhutan, Russia, China, and Brazil are all moving ahead in different ways:
United States
Some US states now treat Bitcoin as an official reserve asset.
The federal government plans to grow its Bitcoin holdings through cost-neutral (budget-safe) purchases.
Bhutan
Bhutan has state-backed crypto mining projects already running. This shows that small countries can be leaders too.
Other Global Examples
Russia, China, and Brazil are building their own crypto tools, even while global rules are still being discussed.
These examples show that waiting too long may cause India to miss out.
What Does Bhandari Want India To Do Next?
Pradeep Bhandari has a clear vision for India’s future with Bitcoin. Here’s what he suggests:
Create Clear Rules: Make laws so everyone—people and businesses—knows what they can and can’t do with digital money.
Run a Pilot Program: Start small. Try holding Bitcoin as a reserve in a test project.
Build Economic Safety: Holding Bitcoin could help India become stronger during global financial shocks.
He said it best, “India stands at a pivotal juncture. A measured Bitcoin strategy, perhaps a reserve pilot, could strengthen economic resilience and project modernity.”
Read Also: Why is the Cryptocurrency Market Down Today?
Conclusion
India is watching as other countries make bold moves with Bitcoin. Pradeep Bhandari wants India to step up too, but in a smart and careful way.
Even though India taxes crypto heavily, it has not yet made clear rules for how people can use it. A test run of a Bitcoin reserve could help the country learn more and be ready for the future. If India acts now, it could be a leader in the new digital economy not just a follower.
So whether you’re watching for the news, the drama, or the crypto impact, you may need to look at Blog Bitrue.
FAQ
What is a Bitcoin reserve?
A Bitcoin reserve means the government holds Bitcoin like it holds gold or US dollars. It’s used as a backup to support the country’s economy.
Why is Pradeep Bhandari proposing this?
He believes India needs to keep up with other countries using Bitcoin and suggests a small, controlled pilot to test how a reserve would work.
Does India already use Bitcoin?
No, India has not officially adopted Bitcoin. It taxes crypto earnings but does not have laws that fully support or regulate its use.
How is the US using Bitcoin?
Some US states are using Bitcoin as a reserve asset. The federal government is planning to expand its Bitcoin holdings without extra cost.
Is this plan risky for India?
Bhandari says no. He sees it as a careful and planned step, not a fast or dangerous decision.
Could this help India's economy?
Yes, it could make India’s economy stronger and more modern, especially if the test shows positive results.
Disclaimer: The content of this article does not constitute financial or investment advice.
