Pakistan establishes its first bitcoin reserve

Islamabad Islamabad: In a major initiative, Pakistan has announced the establishment of its first government-backed strategic bitcoin reserve, as it invites investments in the country’s crypto markets. Bilal bin Saqib, CEO of the Pakistan Crypto Council, made the announcement at the Bitcoin Vegas 2025 conference in Las Vegas on Wednesday, attended by US Vice President JD Vance and President Donald Trump’s sons Eric and Donald Trump Jr. Saqib, who was recently appointed special assistant to the prime minister for crypto and blockchain, called on global crypto builders to come and invest in Pakistan.

“Pakistan is no longer defined by its past. It is being reborn as a visionary hub of digital innovation – powered by its youth, accelerated by necessity and led by a new generation of technocratic politicians,” a statement issued by Saqib’s office said. “If you are building something real – build it in Pakistan. Build wallets for the unbanked. Tokenise land. Drive your mission forward with our youth and our unstoppable grit.” The statement said Pakistan has over 40 million crypto wallets and is one of the “largest and most active freelancer economies in the world”.

According to an official release, Saqib is responsible for developing a comprehensive, FATF-compliant regulatory framework for digital assets, launching a bitcoin mining initiative, and overseeing blockchain integration into governance, finance, and land records. In his speech, Saqib announced the establishment of a national bitcoin wallet, adding, “digital assets are already held in state custody – not for sale or speculation, but as a sovereign reserve, signaling long-term confidence in decentralised finance,” reports Dawn. The newspaper also reported that the government has allocated 2,000 megawatts of surplus power in the first phase for bitcoin mining and AI data centres, opening the door for sovereign miners, tech firms, and clean energy partners across the globe.