Indian Michael Saylor 'shocked' by Pakistan's Bitcoin move
Siddarth Bharwani, Joint Managing Director and CFO of Jetking, expressed astonishment at Pakistan's recent decision to create a national Bitcoin reserve with MicroStrategy's Michael Saylor as an advisor.
Jetking, a Mumbai-based IT education firm, has made headlines as India's first publicly listed company to adopt a Bitcoin treasury strategy. The company aims to hold 210 Bitcoin by 2025, mirroring MicroStrategy's approach.
"I was shocked when I heard that," Bharwani said during a recent conversation with TheStreet Roundtable. "It was impressive to see a country like Pakistan, which generally does not have the best economic condition, to come out and take such a bold move."
Pakistan's aggressive push toward Bitcoin adoption highlights the growing regional pressure on India. Bharwani believes this development should prompt India's government and financial institutions to quickly clarify their own Bitcoin stance.
"Our neighboring countries having this kind of exposure towards Bitcoin or blockchain as an asset, as a category — I think India has to take notice as to why and how did they implement it," he noted.
Bharwani also pointed out Bhutan's substantial Bitcoin investment as another critical sign for India. "Bhutan is holding about 14,000 Bitcoin, if I'm not mistaken. And they're creating a mindful city about two hours away from the capital," he said.
He anticipates significant announcements from Indian authorities — including the Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), and the Ministry of Finance — in the near term.
"I think in the next two to three months, we will have some view from RBI, from SEBI, from the government ministry of finance around how they're looking at Bitcoin," Bharwani stated.
Despite acknowledging India's bureaucratic complexities, Bharwani remains optimistic. "It takes time to implement things in such a big country," he explained, but "when we do come out with the clarity, it will be a big one. It will be something that India will knock down."
Indian Michael Saylor 'shocked' by Pakistan's Bitcoin move first appeared on TheStreet on Jun 30, 2025
This story was originally reported by TheStreet on Jun 30, 2025, where it first appeared.
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