Bilal Bin Saqib, chairman of the Pakistan Cryptocurrency Council, announced on May 28 that the country will create a government-backed strategic Bitcoin reserve.
The statement, made at the Bitcoin 2025 conference in Las Vegas, marks a radical shift from Pakistan's previous opposition to cryptocurrencies.
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Saqib credited the United States with inspiring this move, stating:
"Today is a very historic day. Today, I announce the Pakistani government is setting up its own government-led Bitcoin Strategic Reserve, and we want to thank the United States of America again because we were inspired by them."
This decision is in line with Pakistan's recent efforts to modernize its financial policies, including February's proposal to create a National Cryptocurrency Council to regulate digital assets and attract global investment.