As per reports, Indian Bitcoin holders account for about 5.1% of the world’s total, making the country the world’s second-highest in terms of the cryptocurrency’s total. In terms of monetary value, this comes to about $120 billion. The United States still has the maximum number of Bitcoin holders globally, with a market share of 40% or a value of about $936 billion.
BREAKING: 🇮🇳 INDIA now holds 1 MILLION BTC that’s 5.1% of all Bitcoin in circulation.
🇮🇳 Ranks #2 globally after the US.
Mostly held by retail investors with small holdings. pic.twitter.com/RATHn1zmjy— Sapna Singh (@earnwithsapna) August 4, 2025
Indian Bitcoin holders vs status of cryptocurrency in India
In India, cryptocurrency continues to ride a rocky road.
Bitcoin and other digital currencies have been acknowledged as Virtual Digital Assets (VDAs), beginning in 2022. Nonetheless, this acknowledgement has also come with a couple of provisos.
For one, Indian Bitcoin holders or holders of any other cryptocurrency can’t use it to purchase any commodity or service using these digital currencies. Secondly, India’s central bank, The Reserve Bank of India (RBI) has amply warned the public regarding holding digital currencies in light of the associated risks.
A 2013 press release of the RBI says, “The Reserve Bank of India has today cautioned the users, holders and traders of Virtual currencies (VCs), including Bitcoins, about the potential financial, operational, legal, customer protection and security related risks that they are exposing themselves to.
The Reserve Bank has mentioned that it has been looking at the developments relating to certain electronic records claimed to be “Decentralised Digital Currency” or “Virtual Currency” (VCs), such as, Bitcoins, litecoins, bbqcoins, dogecoins etc., their usage or trading in the country and the various media reports in this regard.”
Steep taxation a hurdle for Indian Bitcoin holders
In 2022, the Indian finance ministry also brought in changes to its taxation rules vis-à-vis income created through digital currencies and through Non-Fungible Tokens (NFTs).
Beginning that year, those earning through crypto are taxed 30%. Furthermore, if, for example, an Indian Bitcoin holder wants to transfer the digital currency, they will also have 1% Tax Deducted at Source (TDS). Likewise, the government also levied an 18% Goods and Services Tax (GST) for payment made to any cryptocurrency platform for a crypto-related transaction.
Who are the Indians investing in crypto?
Reports state that around 75% Indians who’re investing and holding Bitcoin and other cryptocurrencies are the younger generation, especially belonging to the 18-35 age bracket. Women form around nine per cent of this number making them active participants in the buying and holding of crypto.
Indian crypto holders vs India’s CBDC
Earlier, at the start of 2025, the RBI and the Indian government introduced India’s Central Bank Digital Currency (CBDC). Called e₹ or the Digital Rupee, the RBI and the government are keen on making it legal tender and thus, to be used for making all everyday transactions.
Transactions made through the Digital Rupee will be done through the e₹ wallet. The RBI’s stated that the e₹ wallet is a secure channel with adequate security mechanisms put in place to thwart any possible fraud.
These claims aside, it remains to be seen how the Indian Bitcoin holders feel about the e₹ and how willing they’re to accept it as a monetary token. If numbers are to be believed, it’s obvious that Bitcoin continues to remain the most prized cryptocurrency, despite the numerous setbacks it’s had and the roller-coaster-like ride of its continuity, across these years.
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