Pakistan Launches State-Controlled Bitcoin Strategy

Pakistan Adopts U.S.-Style Bitcoin Reserve Strategy

Pakistan has made a bold move with a state-controlled Bitcoin reserve, inspired by the U.S. approach. Special Assistant Bilal Bin Saqib announced the policy, aiming for financial inclusion and economic growth. Bilal Bin Saqib stated, “We are getting inspired by the U.S. government. We will be holding these Bitcoins and we will never, ever sell them.” Finance Minister Muhammad Aurangzeb focuses on foreign investment, with Bilal Bin Saqib emphasizing a “never, ever sell” policy for the Bitcoin reserve. Changpeng Zhao is an advisor for this strategic endeavor.

2,000 MW Allocated for Crypto and AI Operations

The announcement could have wide-reaching effects on the global cryptocurrency market and attract foreign miners. Pakistan allocated 2,000 MW of power for crypto activities, tapping underused coal plants. This approach is detailed in Pakistan to Establish a Bitcoin Strategic Reserve. Pakistan’s BTC accumulation policy might influence other nations’ crypto stances, promoting regulatory frameworks geared toward cryptocurrency and digital asset management as infrastructure foundations expand.

Strategic Reserve Mirrors Global Crypto Trends

This move mirrors trends like El Salvador’s 2021 Bitcoin adoption, highlighting the strategic reserve approach similar to U.S. policies. Pakistan’s plans emphasize holding rather than legal tender adoption. Considering these trends, Pakistan’s strategy could result in increased global economic interest and encourage further blockchain innovation, supported by historical precedence in countries with similar initiatives.