Pakistan’s crypto and blockchain chief unveils country’s first strategic bitcoin reserve

Bilal Bin Saqib, Pakistan’s minister for crypto and blockchain and the CEO of the Pakistan Crypto Council (PCC), speaks on day two of the Bitcoin Vegas 2025 in Vegas, US, on May 28, 2025. (Bitcoin Magazine)
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Updated 29 May 2025
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Pakistan’s crypto and blockchain chief unveils country’s first strategic bitcoin reserve

  • Bilal bin Saqib announced establishment of national Bitcoin wallet holding digital assets already in state custody 
  • Strategic bitcoin reserve is a reserve asset, funded by US Treasury’s forfeited bitcoin, announced by Trump in March 2025

ISLAMABAD: Bilal Bin Saqib, Pakistan’s minister for crypto and blockchain and the CEO of the Pakistan Crypto Council (PCC), unveiled the country’s first government-led strategic bitcoin reserve at Bitcoin Vegas 2025, his office said on Thursday.

The strategic bitcoin reserve is a reserve asset, funded by the United States Treasury’s forfeited bitcoin, announced by President Donald Trump in March 2025. The reserve will be capitalized with bitcoin already owned by the federal government. The United States is the largest known state holder of bitcoin in the world, estimated to hold about 200,000 BTC, as of March 2025.

At Bitcoin 2025, the biggest bitcoin conference in the United States which is underway in Las Vegas, Saqib unveiled “the country’s first government-led Strategic Bitcoin Reserve, and with it, a radically new vision of Pakistan on the global map,” his office said in a statement. 

“Bilal announced the establishment of a national Bitcoin wallet, holding digital assets already in state custody — not for sale or speculation, but as a sovereign reserve signaling long-term belief in decentralized finance.”

Pakistan set up the PCC in March, with Saqib, 34, as the CEO, to create a legal framework for cryptocurrency trading in a bid to lure international investment. Last month, Pakistan introduced its first-ever policy framework, created by a special government group under the Anti-Money Laundering (AML) and Counter Terrorism Financing (CTF) authority, to set rules for how digital money like cryptocurrencies and the companies that deal in it should operate in Pakistan. The policy has been formulated to align with compliance and financial integrity guidelines of the global Financial Action Task Force (FATF).

Earlier this month, the government also approved setting up the Pakistan Digital Assets Authority (PDAA), a specialized regulatory body to oversee blockchain-based financial infrastructure.

Speaking during his keynote at Bitcoin 2025, the PCC CEO highlighted that Pakistan had over 40 million crypto wallets, a median age of 23, and one of the largest and most active freelancer economies in the world.

“Saqib revealed that the government of Pakistan has allocated 2,000 megawatts of surplus electricity in Phase 1 for Bitcoin mining and AI data centers, opening doors to sovereign miners, tech firms, and clean energy partners around the world,” the statement said. 

Saqib is also leading the creation of the Pakistan Digital Assets Authority (PDAA) “to empower builders, protect investors, and formalize digital finance frameworks for the future.”

“This wasn’t just a policy moment, it was a rebranding of a nation,” Saqib said at Bitcoin 2025, which featured speakers including White House officials, US lawmakers and crypto industry executives. This year’s keynote speaker was US Vice President JD Vance.

Digital assets have enjoyed a resurgence under President Trump, who courted cash from the crypto industry on the campaign trail by pledging to be a “crypto president.” In his first week in office, Trump ordered the creation of a cryptocurrency working group to propose digital asset regulations. In March, he hosted a group of crypto executives at the White House.

Congress is considering legislation to create a regulatory framework for stablecoins, a type of cryptocurrency pegged to the US dollar. The crypto industry has lobbied lawmakers to pass legislation creating new rules for digital assets and spent more than $119 million backing pro-crypto congressional candidates in last year’s elections.


Tens of thousands flee northwest Pakistan over fears of military operation

Updated 28 January 2026
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Tens of thousands flee northwest Pakistan over fears of military operation

  • More than 70,000 people, mostly women and children, have fled remote Tirah region bordering Afghanistan 
  • Government says no military operation underway or planned in Tirah, a town in Khyber Pakhtunkhwa province

BARA, Pakistan: More than 70,000 people, mostly women and children, have fled a remote region in northwestern Pakistan bordering Afghanistan over uncertainty of a military operation against the Pakistani Taliban, residents and officials said Tuesday.

Pakistan’s Defense Minister Khawaja Mohammad Asif has denied the claim by residents and provincial authorities. He said no military operation was underway or planned in Tirah, a town in Khyber Pakhtunkhwa province.

Speaking at a news conference in Islamabad, he said harsh weather, rather than military action, was driving the migration. His comments came weeks after residents started fleeing Tirah over fears of a possible army operation.

The exodus began a month after mosque loudspeakers urged residents to leave Tirah by Jan. 23 to avoid potential fighting. Last August, Pakistan launched a military operation against Pakistani Taliban in the Bajau r district in the northwest, displacing hundreds of thousands of people.

Shafi Jan, a spokesman for the provincial government in Khyber Pakhtunkhwa, posted on X that he held the federal government responsible for the ordeal of the displaced people, saying authorities in Islamabad were retracting their earlier position about the military operation.

Khyber Pakhtunkhwa Chief Minister Suhail Afridi, whose party is led by imprisoned former Prime Minister Imran Khan, has criticized the military and said his government will not allow troops to launch a full-scale operation in Tirah.

The military says it will continue intelligence-based operations against Pakistani Taliban, who are known as Tehrik-e-Taliban Pakistan, or TTP. Though a separate group, it has been emboldened since the Afghan

Taliban returned to power in 2021. Authorities say many TTP leaders and fighters have found sanctuary in Afghanistan and that hundreds of them have crossed into Tirah, often using residents as human shields when militant hideouts are raided.

Caught in the middle are the residents of Tirah, who continued arriving in Bara.

So far, local authorities have registered roughly 10,000 families — about 70,000 people — from Tirah, which has a population of around 150,000, said Talha Rafiq Alam, a local government administrator overseeing the relief effort. He said the registration deadline, originally set for Jan. 23, has been extended to Feb. 5.

He said the displaced would be able to return once the law-and-order situation improves.

Among those arriving in Bara and nearby towns was 35-year-old Zar Badshah, who said he left with his wife and four children after the authorities ordered an evacuation. He said mortar shells had exploded in villages in recent weeks, killing a woman and wounding four children in his village. “Community elders told us to leave. They instructed us to evacuate to safer places,” he said.

At a government school in Bara, hundreds of displaced lined up outside registration centers, waiting to be enrolled to receive government assistance. Many complained the process was slow.

Narendra Singh, 27, said members of the minority Sikh community also fled Tirah after food shortages worsened, exacerbated by heavy snowfall and uncertain security.

“There was a severe shortage of food items in Tirah, and that forced us to leave,” he said.

Tirah gained national attention in September, after an explosion at a compound allegedly used to store bomb-making materials killed at least 24 people. Authorities said most of the dead were militants linked to the TTP, though local leaders disputed that account, saying civilians, including women and children, were among the dead.