US Bitcoin Reserve signals a shift: An opening for India
The US Strategic Bitcoin Reserve, launched in January 2025 under President Donald Trump, has elevated digital assets to a global stage. Valued at more than $20 billion as of June 2025, it underscores Bitcoin's emerging role as a store of value.For India, this shift invites reflection: could Bitcoin, thoughtfully integrated, enhance our economic toolkit?The US initiative currently repurposes 200,000 seized Bitcoins as a buffer against inflation, a strategy cemented by last month's White House Crypto Summit with clearly articulated plans to buy more Bitcoin by exploring budget-neutral manners.advertisement
Thereby, expanding its Bitcoin reserve holdings in the coming times without hurting the taxpayer.Three US states have now passed legislation authorising the deployment of public funds to purchase and hold Bitcoin as a reserve asset, with more expected to follow.These measures reflect a growing recognition of Bitcoin's potential to bolster fiscal resilience and serve as a hedge in uncertain economic conditions.This isn't a reckless pivot, it's a calculated step toward embracing digital assets' legitimacy. For India, observing this offers a lens to assess whether Bitcoin could diversify our reserves, complementing traditional holdings in an uncertain global economy.BHUTAN & BITCOIN: A REGIONAL PERSPECTIVE FOR INDIABhutan provides a regional perspective. Since 2021, it has mined Bitcoin with hydropower, amassing a $1 billion-plus reserve by May 2025. Born from tourism's decline, this approach now supports public services and sustainability goals.advertisementIndia, with its renewable energy capacity, has the full scale of capability to adapt this model, though scale and regulation pose distinct challenges. Bhutan's success suggests digital assets can stabilise economies, a point worth considering.WHAT MAKES BITCOIN STAND OUT?Bitcoin stands apart as an asset without an issuer—a commodity, not a security, as the US SEC now recognises. Like gold, it has no central authority; no government, bank, or company controls it. This decentralisation is its bedrock, setting the stage for three defining traits: scarcity, liquidity, and transparency.Only 21 million Bitcoins will ever exist, which, unlike traditional currencies or even assets like stocks, bonds, or commodities that face oversupply and hence inflation, has a fixed supply.This mirrors gold's finite nature but operates at digital speed. Bitcoin trades globally 24/7, offering liquidity unmatched by most decentralised assets; gold, by contrast, sits static in vaults or jewellery, less fluid in daily exchange.And its blockchain—a public, tamper-proof ledger—makes every single transaction verifiable to anyone, reducing the opacity that often clouds traditional markets.These qualities echo gold's appeal: a trusted store of value beyond any single entity's grasp. Yet Bitcoin transcends it, digital and dynamic where gold is physical and inert. At $100,000+ today, it's this blend—gold's scarcity with digital fluidity—that earns it the 'digital gold' label by many including the White House.advertisementIt's an intuitive shorthand: finite and reliable like metal, but built for a borderless, tech-driven world.Bitcoin also stands out because of its programmability and portability. It can move at the speed of the internet, settle transactions with verification but, without intermediaries, and be stored securely with modern cryptography-based security.In an increasingly digital and decentralised world, it aligns with how the next generations are thinking about money and value.THE ROLE OF REGULATIONRegulation remains pivotal. India's crypto policy—taxed but unregulated—needs clarity to unlock potential. During its G20 presidency in 2023, India chaired the formation of a crypto working group with the IMF, tasked with shaping global standards. While its recommendations will take their due course, we are seeing other jurisdictions including Russia, China, and Brazil from the BRICS, and other G20 nations led by the US, race ahead—not pausing for consensus.The IMF's recent classification of Bitcoin as a capital asset further sharpens the need for direction. Clear regulation could bring both transparency and the required oversight to this emerging asset class—enabling responsible innovation while protecting a rising investor class.advertisementThis is essential for fostering institutional confidence and building a framework where Bitcoin can play a meaningful role in India's macroeconomic strategy.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.(Pradeep Bhandari is a national spokesperson of the Bharatiya Janata Party. Views expressed are personal.)- EndsMust Watch
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Mint
28 minutes ago
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Hegseth, Gabbard, CIA scramble after leaked intel challenge Donald Trump's Iran nuclear strike ‘obliteration' boast
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First Post
35 minutes ago
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‘Daddy Trump': Why the spinmeister US president is the perfect leader for social media generation
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Time of India
39 minutes ago
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India, U.S. trade talks face roadblocks ahead of tariff deadline, Indian sources say
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Trade talks between India and the U.S. have hit a roadblock over disagreements on import duties for auto components, steel and farm goods, Indian officials with direct knowledge said, dashing hopes of reaching a deal ahead of President Donald Trump 's July 9 deadline to impose reciprocal tariffs The deadlock marks a sharp shift from earlier optimism, following Trump 's claim that New Delhi had proposed a "no tariffs" agreement for American goods, and officials from both sides suggesting India could be among the first countries to strike a deal on the new U.S. is pushing for a rollback of the proposed 26% reciprocal tariff set to take effect on July 9, along with concessions on existing U.S. tariffs on steel and auto parts. But U.S. negotiators have not yet agreed to the demands, three Indian government officials told Reuters."The U.S. side first wants India to commit to deeper import tariff cuts on farm goods like soybeans and corn, cars and alcoholic beverages along with easing of non-tariff barriers," leading to disagreement between the two sides, one of the sources sources spoke on condition of anonymity, citing the confidentiality of the ongoing commerce ministry, the U.S. Embassy in New Delhi and the U.S. Trade Representative Office did not immediately respond to requests for Indian delegation is expected to travel to Washington before the deadline, although discussions may now focus on a broader agreement rather than a rushed interim deal, a second Indian government source Minister Narendra Modi is trying to position India as a key U.S. partner, seeking to attract U.S. firms like Apple, diversifying supply chains away from trade talks have struggled to make headway."We are keen, but not desperate to sign a deal before the July 9 deadline," the first source said, adding that India has offered tariff cuts on almonds, pistachios, walnuts, and was willing to extend preferential treatment for American imports in sectors like energy, autos and defence."There hasn't been much progress despite several rounds of talks," the second source the sources did not rule out a last-minute breakthrough if Modi and Trump choose to intervene TERM PARTNERSHIPDespite the impasse, Indian officials stress long-term commitment to the U.S. as a trusted economic partner, while maintaining policy and Trump agreed in February to conclude the first phase of a bilateral trade agreement by autumn 2025 and to expand trade to $500 billion by 2030, from about $191 billion in is also advancing talks with the European Union for a free trade pact later this year, and recently concluded talks for a FTA with the United Kingdom - moves aimed at hedging against potential U.S. policy shifts under Trump."The ball is now in the US court. India is not for any win-lose trade partnership," said Ram Singh, head of the Indian Institute of Foreign Trade, a government funded in a worst-case scenario, a third official said, India could absorb the impact of reciprocal tariffs, citing its continued tariff advantage over competitors like Vietnam and exports to the U.S. rose to $17.25 billion in April-May, up from $14.17 billion a year earlier, suggesting the U.S. tariff hikes averaging 10% in early April had a limited impact.
