Bitcoin News Today: India's Crypto Retail Base Drives 5.1% Global Bitcoin Holding

India's position as the second-largest holder of Bitcoin, with approximately 1 million BTC or 5.1% of the global supply, has drawn attention from key figures in the crypto industry. According to new data shared by investor Fred Krueger, this represents an estimated $120 billion in value at current prices. Sumit Gupta, CEO of CoinDCX, highlighted this milestone in a post on X, crediting the country’s large retail investor base for its strong showing despite a 30% capital gains tax and 1% tax deducted at source (TDS) on transactions. Gupta noted that the U.S. holds a much larger share—7.8 million BTC—but India’s strength lies in the sheer volume of retail participation [1].

The Indian crypto market is characterized by widespread grassroots adoption, with millions of small investors continuing to accumulate Bitcoin despite regulatory challenges. While institutional support remains limited, the retail-first nature of the market suggests a strong, long-term commitment from everyday investors. Most individual holdings are modest in size, but the cumulative effect is significant. Gupta emphasized that with clearer regulatory policies and more supportive taxation frameworks, India could surpass the U.S. and become the global leader in Bitcoin ownership [1].

Regulatory uncertainty remains a key barrier. Startups and investors are pushing for digital assets to be officially classified, for taxes to be streamlined, and for innovation to be encouraged rather than restricted. Gupta's comments reflect a broader call for policy reform within the industry, underscoring the need for lawmakers to adapt to the growing importance of crypto assets in the Indian economy [1].

In a parallel development, the Cardano blockchain recently secured community approval to allocate $71 million worth of ADA tokens toward a year-long network upgrade. The initiative aims to enhance scalability, developer tools, and interoperability. While the majority of the community supported the proposal, some raised concerns about the lack of transparency in how the funds will be allocated. The absence of a detailed breakdown has fueled skepticism, with critics arguing that trust is essential for the success of any decentralized and community-led project [2].

Meanwhile, other players in the global crypto space are also making strategic moves. Jack Mallers, CEO of Twenty One, recently announced a strategic increase in Bitcoin holdings, signaling long-term confidence in the asset. At the same time, Gupta addressed recent rumors of a potential $900 million acquisition of CoinDCX by Coinbase, calling such reports unfounded [3].

These developments highlight the evolving nature of the global crypto market, where both institutional and retail participants are navigating a complex landscape of regulation, technology, and investment. As India continues to strengthen its position, the interplay between policy reform, technological innovation, and market sentiment will likely determine the future of Bitcoin adoption in the region [1].

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Source:

[1] CoinDCX CEO Eyes India as Future 1 in Bitcoin Ownership (https://coinfomania.com/coindcx-ceo-eyes-india-as-future-1-in-bitcoin-ownership/)

[2] Cardano Network Upgrade Gets $71M Green Light (https://coinfomania.com/cardano-network-upgrade-71m/)

[3] Leap Digital Investments (https://leapdigitalinvestments.com.au/)