Valued at billions of dollars! Indian investment guru has never held Bitcoin; after a conversation with Musk, decided to start learning.

Zerodha Co-founder Kamath admits he has never held Bitcoin, reflecting India’s financial elite’s cautious stance due to regulation and high taxes on the crypto industry.

Publicly admits “never held Bitcoin,” Kamath says he is still learning about blockchain

Indian prominent investor and Zerodha co-founder Nikhil Kamath recently revealed in a conversation with CoinDCX CEO Sumit Gupta that he has never owned any Bitcoin ($BTC) nor invested in cryptocurrencies.

This statement surprised many, as Kamath has been actively engaging with global business and tech leaders through his personal show “WTF Podcast,” including Elon Musk, Ray Dalio, and others. The discussions often involve blockchain, fintech, and digital assets.

However, he admits he is still quite unfamiliar with the industry and plans to delve deeper starting in 2026: “I have never held Bitcoin, nor invested in crypto. Honestly, I don’t understand enough yet, but I will spend time learning next year.”

This remark quickly sparked discussions on social media. Many Indian media outlets pointed out that this reflects the conservative attitude of mainstream financial elites toward the crypto industry.

Conversation sparks debate, Musk says “Energy is the real currency”

Kamath’s statement stems from a high-profile interview with Elon Musk. During the show, Musk proposed that “energy is the true currency,” suggesting that Bitcoin fundamentally equates to energy and that future monetary systems may revolve around energy production.

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After the show aired, CoinDCX CEO Sumit Gupta asked Kamath on social platform X whether these discussions changed his views on Bitcoin and blockchain. Kamath responded that he holds no Bitcoin and has not entered related markets.

Image source: X/@nikhilkamathcio Nikhil Kamath responds that he does not hold any cryptocurrencies

This response sparked heated discussion in the investment community, especially considering he is one of India’s youngest billionaires, with an estimated net worth between $2.5 billion and $3.1 billion, wielding significant influence in financial markets. Analysts pointed out that this exchange highlights the gap between traditional Indian finance and the emerging crypto industry, as well as the high-net-worth individuals’ cautious attitude toward digital assets.

India’s unclear regulation leads to hesitation; crypto tax system is the biggest obstacle

Kamath’s remarks not only represent his personal stance but also reflect the overall atmosphere toward cryptocurrencies in India. While many countries are accelerating crypto regulation and compliant trading frameworks, the Indian government has yet to announce clear regulations.

Since 2022, crypto trading profits have been taxed at up to 30% capital gains tax, with loss offsetting prohibited, discouraging investors. The market generally believes that India’s regulatory “stall tactics” have suppressed innovation, leading to the outflow of blockchain companies and investment capital.

Some analysts further note that even tech entrepreneurs like Kamath are choosing to stay out of the crypto market, indicating the significant impact of policy environment on industry development.

According to CoinDCX data, India currently has over 100 million potential crypto users, but the actual active user ratio remains far below the global average. Industry insiders suggest that unless the government introduces clear regulations and tax reforms before 2026, crypto will remain in a “high-risk, high-hesitation” state.

Kamath’s candid remarks, to some extent, also reveal the collective silence of India’s financial circles regarding digital assets—an attitude of caution and conservatism, yet an undeniable contradiction.

This article is compiled by Crypto Agent from various sources, reviewed and edited by “Crypto City.” It is still in training, and may contain logical biases or factual errors. Content is for reference only and should not be considered investment advice.