2025-05-29
On May 28, 2025, Bilal Bin Saqib, head of Pakistan’s Crypto
Council and Special Assistant to the Prime Minister on Blockchain and
Cryptocurrency, announced at the Bitcoin 2025 conference in Las Vegas that
Pakistan is establishing a government-led Strategic Bitcoin Reserve.
He stated that the reserve is inspired by the United States'
own strategic Bitcoin reserve initiative and emphasized that the held bitcoins
will not be sold, indicating a long-term commitment to digital assets.
In addition to establishing the reserve, Pakistan plans to
allocate 2,000 megawatts of surplus electricity to support Bitcoin mining and
AI data centers. This initiative aims to generate revenue, create jobs, and
attract foreign investment.
This policy represents a departure from Pakistan's previous
stance on cryptocurrencies, where they were not considered legal.
And it aligns with a trend of nation-states adopting
pro-crypto policies, influenced by regulatory changes in the United States
under the Trump administration.
The U.S. Strategic Bitcoin Reserve holds approximately
200,000 Bitcoins seized through criminal and civil forfeiture proceedings.
The U.S. and China are the two largest government Bitcoin
holders. As of January 2025, the largest known state holders including United
States (207,189 BTC) and China (194,000 BTC).
The Pakistan Crypto Council (PCC), established in March 2025,
plays a pivotal role in this transformation.
Led by Finance Minister Muhammad Aurangzeb and CEO Bilal Bin
Saqib, with Binance co-founder Changpeng Zhao as an adviser, the PCC is tasked
with developing regulations and promoting blockchain technology and digital
assets within Pakistan.
These developments indicate Pakistan's strategic pivot
towards integrating digital assets into its financial infrastructure, aiming to
diversify national assets and embrace the rapidly expanding digital economy.
