Bernstein Advocates for India to Embrace Bitcoin as a National Strategic Asset

Global investment firm Bernstein has called on India to rethink its approach to bitcoin, urging the nation to adopt it as a strategic reserve asset akin to "digital gold." The firm emphasizes bitcoin’s potential to safeguard financial stability in an era of inflation, rising U.S. debt, and geopolitical tensions.

Bernstein critiques India’s current stance on bitcoin, which is categorized as a "private currency," arguing that this perspective overlooks its critical role as a "store of value." While India has traditionally leaned on gold to secure its financial position—boosting reserves by 53% over the last decade—bitcoin offers similar security benefits without the challenges of physical storage or reliance on external entities.

The firm also highlights the growing global acceptance of bitcoin, citing the successful rollout of bitcoin ETFs by financial giants like Blackrock and Fidelity. Bernstein advises Indian regulators and asset managers to create secure, regulated pathways for citizens to access bitcoin, reducing exposure to exchange-related fraud and cyber risks.

With other nations and institutions increasingly embracing bitcoin as a strategic asset, Bernstein underscores the urgency of crafting a national bitcoin policy. Such a move, the firm argues, would position India as a leader in the digital financial revolution rather than a bystander.