Pakistan Makes U-Turn: Establishes Bitcoin Strategic Reserve
Pakistan has made a significant U-turn in its cryptocurrency policy, announcing plans to establish a government-led Bitcoin strategic reserve. This dramatic shift comes as the country aims to align with the growing global trend of nations adopting Bitcoin as a reserve asset.
The Ministry of Finance has set up a Digital Asset Authority to oversee crypto regulations, marking a departure from Pakistan's previous stance against digital assets. Bilal Bin Saqib, head of the National Crypto Council, revealed these plans at the Bitcoin 2025 conference in Las Vegas.
Pakistan's transformation is partly driven by the potential to hedge against traditional monetary pressures and utilise its significant energy resources. The country has allocated 2,000 megawatts of excess energy capacity to Bitcoin mining operations and high-performance computing data centres. This move follows the regulatory transformation in the United States under the Trump administration.
Adding credibility to Pakistan's new direction, Binance co-founder Changpeng Zhao has been appointed as an adviser to the National Crypto Council. Zhao, a Chinese-born Canadian businessman, will guide and promote crypto and blockchain technology in Pakistan.
Pakistan's decision to pursue a Bitcoin reserve signals a new era for the country's digital asset landscape. With a dedicated regulatory body and strategic energy allocation, Pakistan is positioning itself to benefit from the growing global acceptance of Bitcoin as a reserve asset.
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