Historical Bitcoin to Nepalese Rupee Price Movement
The BTC/NPR currency pair tracks Bitcoin’s value against the Nepalese Rupee (NPR). In Nepal, Bitcoin has emerged as an alternative financial tool for remittances, hedging against currency depreciation, and accessing global markets. Despite regulatory restrictions from Nepal Rastra Bank (NRB), Bitcoin adoption continues to grow through peer-to-peer (P2P) platforms and informal networks, driven by the country’s reliance on foreign remittances and limited financial infrastructure.
Historical Overview of BTC/NPR Price Trends
2017–2019: Early Awareness and Informal Adoption
- BTC/NPR surged to NPR 1 million in 2017 during Bitcoin’s global bull run.
- NRB issued warnings against cryptocurrency trading, leading to the closure of local exchanges.
- Despite restrictions, informal P2P trading networks flourished, particularly among tech-savvy youth and freelancers.
2020–2021: Bull Market Rally and P2P Expansion
- BTC/NPR reached NPR 4.2 million by late 2021 as global Bitcoin demand surged.
- Nepalese workers abroad increasingly used Bitcoin for remittance transfers to bypass high fees of traditional channels.
- Regulatory authorities maintained a prohibitive stance, leading to a thriving underground Bitcoin market.
2022: Market Correction Amid Regulatory Tightness
- BTC/NPR corrected to NPR 3.5 million in line with global market downturns.
- Bitcoin continued to be used for remittances and savings despite enforcement actions against certain P2P traders.
- Calls for clear crypto regulation grew louder among the tech and entrepreneurial communities.
2023: Stabilization and Advocacy for Regulation
- BTC/NPR stabilized around NPR 3.8 million as market conditions globally improved.
- Crypto awareness programs led by NGOs and tech communities gained momentum, advocating for formalized regulation.
- Bitcoin usage expanded within small business payments and informal trade channels.
2024–2025 (YTD): Halving Rally and Policy Dialogue Initiation
- Following the 2024 Bitcoin halving, BTC/NPR surged to NPR 6 million by Q1 2025.
- As of April 2025, BTC/NPR consolidates between NPR 5.9–6 million.
- NRB has initiated internal discussions on framing a legal framework for digital assets focused on consumer protection and remittance efficiency.
BTC/NPR Yearly Comparison Table
| Year | Avg. Price (NPR) | Year High | Year Low | Annual Performance | Market Factors |
|---|---|---|---|---|---|
| 2017 | NPR 950,000 | NPR 1 million | NPR 500,000 | ✅ Informal adoption | Remittance-driven demand |
| 2021 | NPR 4 million | NPR 4.2 million | NPR 2.2 million | ✅ Bull run | P2P remittance surge |
| 2022 | NPR 3.4 million | NPR 3.5 million | NPR 3 million | ❌ Market correction | Regulatory restrictions |
| 2023 | NPR 3.75 million | NPR 3.8 million | NPR 3.5 million | ✅ Stabilization | Advocacy for regulation |
| 2025* | NPR 5.95 million | NPR 6 million | NPR 5.9 million | ✅ Halving-driven rally | Policy dialogue initiation |
Key Factors Driving BTC/NPR Valuation
- Remittance Efficiency – Bitcoin provides a faster and cheaper remittance channel for Nepalese workers abroad.
- Currency Devaluation Hedge – Bitcoin acts as a store of value against NPR’s gradual depreciation.
- P2P Market Dominance – Due to banking restrictions, P2P networks dominate Bitcoin transactions in Nepal.
- Regulatory Challenges – Despite prohibitive regulations, Bitcoin usage persists through informal channels.
- Global Market Influence – BTC/NPR mirrors international Bitcoin price cycles, with local adoption driven by remittance needs.
BTC/NPR Market Structure Insights (2025)
- P2P platforms remain the primary access point for Bitcoin transactions within Nepal.
- Remittance corridors using Bitcoin are increasingly popular due to low transaction costs.
- NRB has initiated policy dialogues, considering regulated frameworks for digital assets.
- Tech communities and NGOs are leading awareness and education programs for safe Bitcoin usage.