On May 28, Bilal Bin Saqib made a landmark announcement at the Bitcoin 2025 conference in Las Vegas. He is the head of the country’s newly formed National Crypto Council.
This statement marks a sharp turn from Pakistan’s earlier position, which once held that crypto would never be legalized. Now, the country appears not only open to a Bitcoin reserve but ready to embrace it at a national level.
A New Direction for Pakistan
This move comes just months after the formation of the National Crypto Council in February 2025. The Council was tasked with drafting crypto regulations, supporting blockchain infrastructure, and attracting foreign investment. Since then, Pakistan has made bold moves. In May, the government approved the use of 2,000 megawatts of excess energy to power Bitcoin mining operations and high-performance computing data centers.
Saqib’s announcement aligns with a growing trend among governments to treat Bitcoin not just as a digital asset but as a strategic financial tool. The idea of a Bitcoin reserve mirrors recent policy changes in the United States, where the Trump administration’s regulatory shift opened the door for state-level Bitcoin adoption. Countries like El Salvador set the stage in 2021 by adopting Bitcoin as legal tender. But Pakistan’s approach is different. Rather than changing its currency system, the country is starting by accumulating Bitcoin in a national treasury.
WHAT A TIME TO BE ALIVE!!! pic.twitter.com/qOehhOCAFk
— Vivek
(@Vivek4real_) May 28, 2025
Also, Binance co-founder Changpeng Zhao, who joined as an advisor in April, is expected to guide Pakistan’s crypto journey. His role includes advising on smart regulation, infrastructure growth, and digital asset adoption.
More About Bitcoin Reserves
As of April 2025, governments collectively hold over 463,741 BTC. They represent 2.3% of Bitcoin’s total supply. This marks a decline from the 529,591 BTC reported in July 2024, highlighting shifts in how different countries approach their crypto strategies.
NEWS: Pakistan announces plans to establish a Bitcoin strategic reserve.
As of April 2025, governments collectively hold 463,741 $BTC, representing around 2.3% of Bitcoin’s total supply.
Our latest study reveals the U.S. leads in holdings, followed by China and the U.K.
Read… pic.twitter.com/OYKwucqY7k
— CoinGecko (@coingecko) May 29, 2025
So, while nations like El Salvador and Bhutan have continued to grow their Bitcoin reserves, others, including the United States and Germany, have chosen to liquidate portions of their holdings. The trend reflects ongoing government involvement in the crypto space, with countries taking varied paths based on economic goals and regulatory outlooks.
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