‘An Opening For India’: BJP’s National Spokesperson Calls For Strategic Bitcoin Reserve Pilot

The national spokesperson for India’s ruling party has suggested that the country should explore a Bitcoin (BTC) reserve pilot and proactively work on a regulatory framework for crypto assets to lead the growing industry and strengthen its economy.

Politician Pushes For Bitcoin Reserve Pilot

On Thursday, Pradeep Bhandari, the national spokesperson of the Bharatiya Janata Party (BJP), urged the Indian government to explore a Bitcoin strategy to strengthen the country’s economy and project innovation.

In an article for India Today, Bhandari praised the US efforts to establish a Strategic Bitcoin Reserve, exploring budget-neutral options to expand its holdings without using taxpayers’ money.

He highlighted the US states’ race to pass crypto legislation and establish reserves. Notably, three states have already passed bills that allow the creation of a BTC reserve, with some, such as Texas, enabling the use of public funds to purchase and hold Bitcoin as a reserve asset.

Similarly, Arizona recently passed a bill that updated the state’s unclaimed property laws to include Bitcoin and other cryptocurrencies, technically creating Arizona’s first crypto reserve.

He also noted Bhutan’s crypto strategy, mining BTC using hydropower since 2021, offering a regional perspective. Notably, the South Asian country amassed a $1 billion Bitcoin reserve by May 2025.

BJP’s national spokesperson considers that the US shift and Bhutan’s strategy invite reflection about how BTC, thoughtfully integrated, could enhance India’s economic toolkit. “For India, observing this offers a lens to assess whether Bitcoin could diversify our reserves, complementing traditional holdings in an uncertain global economy,” the article reads.

Meanwhile, he suggested that the country, with its renewable energy capacity, could adapt Bhutan’s successful model, which shows that “digital assets can stabilise economies, a point worth considering.”

Crypto Regulatory Reform: A Must

According to Bhandari, these measures “reflect a growing recognition of Bitcoin’s potential to bolster fiscal resilience and serve as a hedge in uncertain economic conditions,” adding that these efforts aren’t a “reckless pivot,” but a “calculated step” toward embracing the legitimacy of digital assets.

Therefore, India stands at “a pivotal juncture,” having the opportunity to lead global markets with a “measured Bitcoin strategy,” like a reserve pilot, to “strengthen economic resilience and project modernity.”

Nonetheless, he explained that regulation in the country remains pivotal as India’s crypto policy needs clarity to unlock the industry’s potential. Notably, authorities tax crypto assets, but the sector remains highly unregulated.

BJP’s national spokesperson pointed out that in 2023, India chaired a crypto working group with the International Monetary Fund (IMF) to shape global standards. However, he considers it necessary to “race ahead” like the US and other jurisdictions, instead of pausing for consensus.

Clear regulation could bring both transparency and the required oversight to this emerging asset class—enabling responsible innovation while protecting a rising investor class.

He concluded that regulation is essential for “fostering institutional confidence and building a framework where Bitcoin can play a meaningful role in India’s macroeconomic strategy.”