Pakistan reveals its first government-backed Strategic Bitcoin Reserve
Pakistan has introduced its first government-led Strategic Bitcoin Reserve, as announced by the Chief Executive Officer of the Pakistan Crypto Council, Bilal Bin Saqib. Saqib, who recently took up the role of Special Assistant to the Prime Minister for Crypto and Blockchain, disclosed the news after his participation in the Bitcoin Vegas 2025 conference in Las Vegas. He addressed a prominent audience, which included high-profile figures like United States Vice President JD Vance and Eric Trump. Saqib emphasized Pakistan’s transformation into a tech-savvy ecosystem driven by the energy and innovation of its youth.
During his speech, Saqib highlighted the establishment of a national bitcoin wallet aimed at storing digital assets under state custody, emphasizing the country’s commitment to decentralized finance on a long-term basis. He expressed gratitude to former US President Donald Trump for his role in diffusing tensions between India and Pakistan and his stance on crypto adoption. Pakistan’s government has dedicated 2,000 megawatts of surplus electricity to support bitcoin mining and AI data centers in the initial phase, signaling strategic partnerships with tech firms and clean energy proponents globally.
Pakistan boasts a significant number of over 40 million crypto wallets and a vibrant freelancer community, positioning it as a key player in the digital economic landscape. To ensure regulatory oversight and foster growth in digital finance, Saqib has taken steps to establish the Pakistan Digital Assets Authority (PDAA). He urged global crypto innovators to consider Pakistan as a destination for investment, highlighting the country’s untapped potential and promising future in emerging technologies like Web3. The blueprint presented by Saqib outlines a vision for Pakistan as a nation poised to spearhead tech advancements and economic opportunities in the digital realm.
In response to the evolving landscape of digital currencies, the Pakistani government has initiated plans to establish a National Crypto Council to align with global trends. Saqib’s new role involves devising a comprehensive regulatory framework compliant with FATF guidelines, promoting bitcoin mining initiatives, and incorporating blockchain technology across governance, finance, and land management sectors. Furthermore, he will oversee the licensing and supervision of virtual asset service providers, ensuring investor protection and fostering growth within the Web3 ecosystem.
As part of a national strategy to leverage surplus electricity resources, Pakistan aims to develop high-tech jobs, attract foreign investments, and generate revenue through bitcoin mining and AI data centers. By allocating 2,000 megawatts of electricity in the initial phase, the government seeks to capitalize on the potential of emerging technologies while contributing to economic growth and technological advancement in the country. Pakistan’s foray into digital assets and blockchain technologies signifies a proactive approach towards embracing innovation and securing a competitive edge in the global digital economy landscape.
