Bitcoin has steadily carved a space for itself in India’s financial landscape, despite evolving regulations and policy debates. As one of the most prominent digital assets globally, Bitcoin ownership in India spans individuals, startups, exchanges, and even government-seized holdings. While exact figures remain largely private due to the decentralized and pseudonymous nature of blockchain, certain key players stand out as major holders. This article explores who owns the most Bitcoin in India, analyzing influential individuals, leading exchanges, institutional involvement, and emerging trends shaping the future of digital asset ownership.
Prominent Individual Bitcoin Holders in India
While precise Bitcoin holdings are rarely disclosed, several Indian-origin or India-based figures have emerged as influential stakeholders in the cryptocurrency ecosystem.
Balaji Srinivasan
Though primarily based in the U.S., Balaji Srinivasan — former CTO of Coinbase and partner at Andreessen Horowitz — holds significant influence in global crypto circles. Of Indian origin, Srinivasan is a vocal proponent of Bitcoin as "digital gold" and a tool for financial sovereignty. His deep involvement in blockchain innovation and early-stage crypto investments suggests he likely holds a substantial amount of Bitcoin. While not actively managing Indian exchanges, his thought leadership resonates strongly with India’s tech-savvy crypto community.
👉 Discover how early crypto visionaries are shaping India’s digital asset future.
Nischal Shetty
As the founder and CEO of WazirX, one of India’s largest cryptocurrency exchanges, Nischal Shetty is a central figure in the country’s Bitcoin ecosystem. Under his leadership, WazirX has facilitated millions of dollars in Bitcoin trades and introduced features like auto-invest and staking to promote long-term holding. Given his early entry into the market and continued advocacy for crypto adoption, Shetty is widely believed to hold a significant personal portfolio of Bitcoin.
Sathvik Vishwanath
Sathvik Vishwanath, co-founder and CEO of Unocoin — one of India’s first Bitcoin exchanges — has been instrumental in introducing retail investors to Bitcoin since 2013. As a pioneer in the space, Vishwanath not only built infrastructure for buying and storing Bitcoin but also educated users on its long-term value. His early-mover advantage and sustained presence suggest he maintains one of the largest individual Bitcoin holdings among Indian entrepreneurs.
Major Cryptocurrency Exchanges Holding Bitcoin
While individual holdings are speculative, exchange-held Bitcoin can be partially inferred from trading volume, user base, and operational scale.
WazirX
WazirX dominates India’s crypto exchange landscape with millions of registered users. The platform holds vast amounts of Bitcoin as custodian assets for its customers. Additionally, its integration with Binance through the Binance-WazirX partnership has enhanced liquidity and reserve strength. While user funds are technically not owned by the exchange, WazirX's operational reserves and treasury holdings likely include a meaningful amount of Bitcoin.
Unocoin
Established in 2013, Unocoin was among the first platforms to offer Bitcoin trading in India. Its longevity and focus on security have earned it trust among early adopters. The exchange maintains cold storage solutions for user-held Bitcoin and likely holds Bitcoin in its own treasury as part of business operations. Its role as a foundational player makes it a major custodian of Bitcoin in the Indian market.
ZebPay
ZebPay is another veteran in India’s crypto space, serving both domestic and international users. Known for its compliance-first approach, ZebPay has restructured over the years to adapt to regulatory shifts. With a large active user base consistently trading Bitcoin, ZebPay manages substantial Bitcoin reserves. Though much of this is held on behalf of users, the exchange's infrastructure and liquidity demands require significant native holdings.
Institutional and Venture Capital Involvement
Beyond individuals and exchanges, institutional capital plays an increasingly important role in shaping Bitcoin ownership patterns in India.
Sequoia Capital India
One of the most respected venture capital firms in Asia, Sequoia Capital India has backed several high-profile Indian crypto startups, including CoinDCX and WazirX. Through equity stakes, these investments translate into indirect exposure to Bitcoin holdings. As portfolio companies accumulate Bitcoin through trading fees, treasury reserves, or user deposits, Sequoia gains indirect economic interest in the asset.
Digital Currency Group (DCG)
Although headquartered globally, DCG’s investment arm has funded blockchain ventures that operate in or target the Indian market. Through subsidiaries like Grayscale (which holds BTC through its trust products), DCG exerts indirect influence over Bitcoin flows into emerging markets like India. While not a direct holder within India, its ecosystem supports infrastructure that enables local ownership growth.
Government-Held Bitcoin from Seizures
An often-overlooked category of Bitcoin ownership involves state-held assets. Indian law enforcement agencies, including the Enforcement Directorate (ED) and cybercrime units, have seized cryptocurrency worth hundreds of crores during investigations into frauds, money laundering, and illegal gambling platforms.
These seized Bitcoins are stored in government-controlled wallets and may eventually be auctioned or liquidated. While not “owners” in the traditional sense, the Indian government currently holds a non-trivial amount of Bitcoin — making it one of the largest involuntary custodians in the country.
👉 Learn how governments manage seized digital assets and what it means for market supply.
Emerging Trends Shaping Bitcoin Ownership
Rising Institutional Adoption
Indian companies are beginning to explore Bitcoin as a treasury asset. Though still rare compared to Western counterparts like MicroStrategy, some fintech startups and blockchain firms are allocating portions of their reserves to Bitcoin as a hedge against inflation and currency devaluation.
This trend is expected to grow as regulatory clarity improves under potential frameworks like the proposed Digital Rupee or crypto licensing regimes.
Regulatory Clarity on the Horizon
The Indian government has taken a cautious but increasingly structured approach to cryptocurrencies. With discussions around a potential regulatory sandbox and clearer tax guidelines (such as TDS on transactions), investor confidence is improving. Clearer rules could encourage more individuals and institutions to openly disclose and increase their Bitcoin holdings.
Blockchain Integration Across Sectors
Beyond investment, blockchain technology is being adopted in supply chain management, healthcare records, and digital identity systems across India. This broader technological embrace helps normalize decentralized systems and indirectly supports greater acceptance of native assets like Bitcoin.
Frequently Asked Questions (FAQ)
Q: Is it legal to own Bitcoin in India?
A: Yes, owning and trading Bitcoin is currently legal in India. The government has not banned cryptocurrencies, though they are subject to taxation and regulatory oversight.
Q: How much tax do I pay on Bitcoin profits in India?
A: As of current rules, cryptocurrency gains are taxed at 30% plus applicable surcharge and cess. Additionally, a 1% TDS applies on all crypto transfers above a certain threshold.
Q: Can Indian banks block crypto transactions?
A: While the Reserve Bank of India previously discouraged banks from serving crypto businesses, the Supreme Court overturned this restriction in 2020. Banks cannot outright ban transactions solely due to crypto association.
Q: Are there any known public wallets for major Indian holders?
A: No official public wallets are confirmed for figures like Shetty or Vishwanath. Most high-net-worth individuals use private cold storage solutions for security.
Q: Does the Indian government plan to sell seized Bitcoin?
A: There have been discussions about auctioning confiscated crypto assets. Some seizures have already been liquidated through court orders, indicating future sales may become routine.
Q: Will Indian companies start holding Bitcoin on their balance sheets?
A: It’s possible. As global trends show corporate adoption rising, Indian tech-forward firms may follow suit — especially if regulatory conditions support such moves.
Final Thoughts
Bitcoin ownership in India reflects a dynamic mix of pioneers, entrepreneurs, exchanges, institutions, and even state actors. While exact rankings remain elusive due to privacy constraints, individuals like Nischal Shetty and Sathvik Vishwanath — along with platforms like WazirX, Unocoin, and ZebPay — are undeniably at the forefront. Institutional interest is growing, regulatory signals are stabilizing, and technological adoption is accelerating.
As India moves toward clearer crypto policies in 2025 and beyond, the landscape of Bitcoin ownership is set to evolve dramatically — potentially unlocking mainstream investment and transforming how digital wealth is stored and managed across the nation.