In this edition of ETMarkets Smart Talk, Vikaas M Sachdeva, Chief Executive Officer of BitDelta India, explains why he believes the country is at a key inflection point in its digital asset journey.
Backed by rising participation from Gen Z investors, growing interest from family offices, and increasing global awareness around assets like Bitcoin, he highlights how the investor base—currently estimated at around 12 crore—could potentially double every two to three years.
Sachdeva also discusses the evolving narrative around crypto, the importance of security and transparency, and how better communication and awareness could drive the next phase of growth in India’s crypto market. Edited Excerpts –
Kshitij Anand: Now, you said in the press conference that this is the big India crypto moment. Why are you saying that?
Vikaas M Sachdeva: Well, I think the inflection point is here. If you look at the way the market is evolving, it is very rapidly gaining acceptance among digital-native investors who are able to access information and are investing actively. Already, the spot turnover last year, I believe, was in the vicinity of around $5 billion, and the tax paid to the government in terms of the 30% tax was ₹537 crore, with TDS of ₹487 crore. There are 119 million investors—that is 12 crore investors.
Most of these investors have seen the ups and downs of the crypto market. If you observe how any industry evolves, there is an initial rush, followed by a phase of moderation and acceptance, after which it takes off. You can look at the dot-com era, which later evolved into e-commerce, or ETFs and mutual funds.
The dissemination of information is spreading as fast as curiosity about the product, and more people—especially Gen Z—are looking at allocating more assets. Last but not least, investors today are very globally aware. One of the most striking trends globally is that Bitcoin ETFs are attracting large sums of money.
So, across the spectrum, I would say this is very similar to the transition from closed-end to open-end mutual funds that happened earlier—something we are witnessing now.
Kshitij Anand: You have been very closely associated with a lot of family offices, and retail investors come after that. Many family offices have started including crypto in their portfolios. How is that wave progressing? Do you think this is the initial phase of acceptance, which will eventually translate into tier II and tier III cities, as you mentioned in the press conference?
Vikaas M Sachdeva: Yes, of course. As I was saying about institutions, if I look at family offices as an institutional segment, there is significantly higher acceptance. This is also because a younger generation within these family offices is exposed to global trends and is encouraging senior members to allocate at least a portion of their portfolios to Bitcoin.
Also, there is now enough data available that shows how allocating even 1%, 3%, or 5% to crypto can impact overall portfolio returns—and the results are quite encouraging. The key advantage with family offices is that they have patient capital. If you have patient capital and are able to allocate resources—and even increase exposure during challenging times—they are now beginning to see the benefits. So, overall, it is very, very encouraging.
Kshitij Anand: You did talk about security, which remains a concern for many investors. So, I would like to take up this question—how is, let’s say, BitDelta India different and more secure?
Vikaas M Sachdeva: How is BitDelta different and secure? I will address this in two parts. First, let me explain how BitDelta is safe and secure. I think we have a triple-A security rating. We have designed this platform with security as the foundation, not as an additional layer. It is embedded in the system design and the overall proposition that we offer.
I can go into technical details—custody with Fireblocks, MPC configuration, triple-A system audits, and audits by Hacken and Hashlock. We also have ISO-27000 certifications and others. More importantly, this is a technology transfer from a global platform that has seen eight years of intensive development.
If I have to present the other side of the story, vulnerabilities exist in digital investing infrastructure across all capital markets and products, and there is constant activity happening there as well. However, crypto tends to receive disproportionate attention, largely because the narrative around it still needs to be clarified.
Incidents can happen anywhere, and nothing happens by choice. There are smart people in every field. What is encouraging is how the industry is evolving and responding. My peers have done a very good job in building awareness and communicating effectively. If something goes wrong, one part is the incident itself; the other is standing up, acknowledging it, and explaining how it is being rectified—and I find that quite encouraging.
Kshitij Anand: So, with 12 crore investors and counting, how do you see the landscape evolving over the next four to five years?
Vikaas M Sachdeva: Over the next four to five years, if everything goes well and we, as an industry, get our communication right, I would not be surprised if the investor base doubles every two to three years. Currently, roughly one out of twelve investors in India is into crypto, while the broader investment ecosystem has reached about 30 crore investors. So, the gap is not very large.
It took around 20 years to reach 30 crore investors in traditional markets, but crypto has achieved significant scale in less than a decade. I believe the space will grow by leaps and bounds, with a lot more interest coming in.
(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)
