India Urged to Embrace Bitcoin as Strategic Reserve Asset Amid Global Unrest

CN
4 hours ago

Investment firm Bernstein has urged India to recognize bitcoin as a strategic reserve asset, highlighting its potential as “digital gold” amid global financial risks like inflation, U.S. debt, and geopolitical instability. Bernstein argues that India’s current focus on central bank digital currencies (CBDCs) and its classification of bitcoin as a “private currency” overlook BTC’s key role as a “store of value.” India has historically relied on gold for financial security, increasing its reserves by 53% over the past decade; however, bitcoin could provide similar protection without the risks of physical custody or foreign control. Bernstein points to the success of bitcoin ETFs by major global asset managers such as Blackrock and Fidelity. It recommends that Indian asset managers and regulators facilitate safe, regulated access to bitcoin, allowing Indian investors to benefit from secure crypto products and reducing the risks of exchange hacks and fraud. Bernstein emphasizes the urgency of a national bitcoin policy to ensure India doesn’t miss out as other nations and institutions increasingly adopt BTC as a strategic asset.

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