India's Crypto Adoption Sets Stage for Scarcity-Driven Price Pressure

India's growing adoption of cryptocurrencies has created a unique problem for Bitcoin. With over 66 million people, or 4.6% of the population, owning crypto, demand for limited supply coins is increasing.

The total supply of BTC remains capped at 21 million coins, while the number of potential owners can continue to grow. This creates a Malthusian scarcity dynamic that could drive up prices and impact broader adoption dynamics.

Crypto analyst Willy Woo highlighted this issue on X, citing India's rapid growth in crypto ownership. The increasing demand for a fixed supply of BTC may make it harder for new owners to acquire larger shares of the cryptocurrency.