River's $840K Bitcoin Price Target Challenged as India Faces Crypto Adoption Hurdles

River's institutional-allocation model projects $1.3T, $5.3T in net inflows mapping to a $250,000, $840,000 Bitcoin price within five years, based on 20%, 40% portfolio participation, 2%, 4% allocations and a three-times market-cap multiplier.

However, this scenario has been challenged by CoinDCX co-founder Sumit Gupta, who questioned the participation rate and allocation assumptions behind it.

BlackRock recommends 1%, 2% Bitcoin exposure for volatility-tolerant investors.

India ranks No. 1 in crypto adoption but faces friction from a 30% VDA tax and 1% TDS.