Pakistan has announced the creation of a national Bitcoin reserve, which will be treated as a strategic asset. This decision is accompanied by various initiatives in blockchain technology and regulation of digital assets.
Strategic Approach to Bitcoin
Event attendees highlighted that this reserve will not be used for trading or speculation. "This is a permanent reserve. We’re not selling," said Bin Saqib, Special Assistant to the Prime Minister on Blockchain and Crypto.
Blockchain Development and Energy
Prime Minister Shehbaz Sharif appointed Bin Saqib as his Special Assistant for Blockchain and Crypto. As part of this plan, the country aims to allocate 2,000 megawatts of electricity for Bitcoin mining and to power AI data centers. Initiatives also include tokenizing state-owned illiquid assets and implementing blockchain for public sector efficiency.
Regulation and International Cooperation
Pakistan is strengthening its regulatory stance regarding digital assets. In May, the Ministry of Finance established the Pakistan Digital Assets Authority to oversee crypto regulation and compliance. Additionally, the Pakistan Crypto Council signed a letter of intent with an international organization promoting global blockchain adoption. Bin Saqib noted that recent changes in the U.S. have inspired the country to take such steps.
Thus, Pakistan is demonstrating an ambitious approach to integrating Bitcoin and blockchain technologies as essential components of its economic strategy.
