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MarketIndia
Sep 1, 2026
< 1min read
byNynu V Jamal
forCoinEdition
<img src="https://xpertsstudio.com/wp-content/uploads/2026/09/Thane-Becomes-Indias-First-City-with-Dedicated-Crypto-Investigation-Cell-355×200-1-1.jpg” alt=”India’s <a href="https://xpertsstudio.com/bitcoin-saylor-flags-83-drop-for-strc-1x-rating/” title=”Bitcoin: Saylor Flags 83% Drop for STRC 1x Rating”>Bitcoin Adoption Has a Malthusian Problem: More Owners, Only 21 Million Coins” loading=”lazy”>
India now has about 66 million crypto owners, roughly 4.6% of the population, while Bitcoin (BTC) supply remains capped at 21 million coins. Rising adoption in India creates a Malthusian scarcity dynamic that increases demand and competition for coins, which could exert upward price pressure and affect broader crypto adoption dynamics.
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- India’s Bitcoin ownership is estimated at 4.6%, representing over 66 million people.
- The supply is capped at 21M coins, while the number of potential owners can keep growing.
- Rising adoption could make owning a larger share of BTC increasingly difficult as demand grows.
Bitcoin has a limited supply, with the total number of available coins capped at 21 million. But this takes an interesting turn as there is no limit to the number of people who could want to own the crypto. This creates a unique scarcity problem, especially in countries like India, where 4.6% of the population already owns crypto.
Malthus’ Scarcity Theory Meets Bitcoin’s Fixed Supply
Crypto analyst Willy Woo took to X to reveal India’s growing adoption of cryptocurrencies. Reportedly, in India, more than 66 million people own crypto, representing 4.6% of the total population. The country…
Source: cryptorank.io