In his suicide note, Bharat Patel said he worked as a bitcoin trader (Representational)

A bitcoin trader allegedly committed suicide by hanging himself from the ceiling at his residence in Ahmedabad's Ranip locality, police said on Sunday.

The incident took place on Saturday night, they said.

The victim, Bharat Patel, left a note behind in which he accused a senior police officer and his brother of threatening him for the losses they had suffered in the cryptocurrency investment, police said.

A police official said, in the suicide note, Mr Patel accused Deputy Superintendent of Police (DySP) Chirag Savani and his elder brother Haresh Savani of putting pressure on him and threatening him to compensate for the losses they suffered in bitcoin trading.

In the note, Mr Patel mentioned that he worked as a bitcoin trader and invested bitcoins on behalf of the Savani brothers, in which they incurred losses, the official said.

"The suicide note will be sent to the Forensic Science Laboratory for examination, and Ranip police inspector will conduct an investigation based on the FSL report," Deputy Commissioner of Police Dharmendra Sharma said.

"The handwriting of the suicide note will be examined and the matter will be investigated. Offences will be registered if a case is made out," he added.

The Savani brothers started putting pressure on him, and asking him to return their 11,575 bitcoins as against the loss of five bitcoins, the official said.

"There is a huge pressure on me and my brother. I am very disturbed due to bitcoin recovery. Chirag Savani visited my house and threatened me to pay him back the entire bitcoin. I am compelled to commit suicide. And the pressure of the two brothers is responsible for my suicide. My family members have nothing to do with this and they are innocent," the official quoted the note as saying.