Sumit Gupta, Co-founder of CoinDCX expects blockchain to become the backbone of future financial applications, while digital assets continue to play a growing role in India’s financial system.Bitcoin is becoming a mainstream investment option for Indian investors, said Sumit Gupta, Co-founder of CoinDCX. Speaking on the growing adoption of digital assets, Gupta noted that people are now looking at Bitcoin as “one more asset class” alongside gold and equities.
“During every Mahurat trading every Diwali, I’ve been watching a lot of content getting created from various people where they are diversifying beyond gold and equities and now also looking at Bitcoin and crypto assets in general,” Gupta said.
He added that Bitcoin and the broader crypto market have gained momentum due to global institutional participation, which has made the asset class more mainstream.
According to Gupta, India currently has between 3.5 crore and 4 crore unique crypto holders. He expects this number to double in the coming years. “I do believe that this number can easily go to eight to 10 crore Indians over the next few years,” he said, adding that CoinDCX aims to serve customers “keen to diversify their portfolio beyond equities and gold to now even digital assets.”
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Gupta also highlighted the evolution of blockchain technology in India, noting that it has moved beyond trading and investment into practical use cases. “Seven, eight years back, hardly there were any conversations around blockchain technology, let alone Bitcoin,” he said. “Now we are seeing government initiatives like Maharashtra talking about tokenisation on public blockchains.”
He believes the next phase of growth will come from integrating blockchain into mainstream financial applications. “My thesis is that blockchains will be the back end – the front end will remain the same, but we will see more and more applications getting powered by blockchain technology,” Gupta said.
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