Pakistan announces establishment of its first Bitcoin reserve at US event

In a major initiative, Pakistan has announced the establishment of its first government-backed Strategic Bitcoin reserve as it invited investment in the country’s crypto markets.

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Pakistan Crypto Council CEO Bilal Bin Saqib made the announcement on Wednesday at the Bitcoin Vegas 2025 conference in Las Vegas, which was attended by US Vice President JD Vance and the sons of President Donald Trump, Eric and Donald Trump Jr.

Saqib, who was recently appointed Special Assistant to the Prime Minister for Crypto and Blockchain, also 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 forward-looking hub of digital innovation — powered by its youth, sharpened by necessity, and led by a new generation of tech statesmen,” Saqib was quoted as saying in a statement issued by his office.

“If you’re building something real — come build it in Pakistan. Come build wallets for the unbanked. Come tokenise land. Come scale your mission with our youth and our unstoppable grit.”

The statement noted that 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 bitcoin mining initiatives, and overseeing blockchain integration in governance, finance, and land records.

In his speech, Saqib announced the establishment of the national bitcoin wallet, “holding digital assets already in state custody — not for sale or speculation, but as a sovereign reserve signalling long-term belief in decentralised finance,” Dawn reported.

He also revealed that the government had allocated 2,000 megawatts of surplus electricity in the first phase for bitcoin mining and AI data centres, opening doors to sovereign miners, tech firms, and clean energy partners around the world, the paper.