What happened?
Pakistan has announced the creation of a government-led Bitcoin strategic reserve. This marks a significant policy reversal from its previous anti-crypto stance. The announcement was made during the Bitcoin 2025 conference in Las Vegas by Bilal bin Saqib, head of the Pakistan Crypto Council.
Who does this affect?
This initiative affects various stakeholders including the Pakistani government, crypto investors, and businesses within the country. International crypto markets and global investors will also feel the impact, as Pakistan positions itself as a player in digital assets. The move is part of a broader national strategy to embrace blockchain technology and expand its use in Pakistan.
Why does this matter?
The creation of a Bitcoin reserve by Pakistan signals its intention to become a serious contender in the global digital asset market. This could boost investor confidence and attract more interest in the region, potentially influencing the global cryptocurrency landscape. By committing to a legal framework and infrastructure for crypto, Pakistan aims to leverage blockchain technology for economic growth.