KARACHI: Pakistani officials held a “landmark discussion” this week with Michael Saylor, bitcoin advocate and billionaire US business executive, on using digital currencies to strengthen Pakistan’s financial resilience and its digital economy, according to a statement released on Sunday. 

Pakistan set up the Pakistan Crypto Council (PCC) in March to create a legal framework for cryptocurrency trading in a bid to lure international investment. In April, Pakistan introduced its first-ever policy framework 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).

Last month, the government approved setting up the Pakistan Virtual Assets Regulatory Authority (PVARA), a specialized regulatory body to oversee blockchain-based financial infrastructure, and separately also unveiled the country’s first government-led strategic bitcoin reserve at the Bitcoin 2025 conference in Las Vegas.

Talks this week between Saylor and Pakistan’s Finance Minister Muhammad Aurangzeb and Minister of State for Crypto and Blockchain Bilal Bin Saqib focused on how bitcoin could be used as part of sovereign reserves and monetary policy.

“Pakistan aspires to lead the Global South in the development and adoption of digital assets, setting a benchmark for innovation, regulation, and inclusive growth in the digital economy,” Finance Minister Aurangzeb, who is the chairman of the PCC, was quoted as saying in a statement released by Saqib’s office.

Saylor, one of the world’s most prominent corporate bitcoin investors, welcomed Pakistan’s move to explore digital assets, the statement added.

“Pakistan has many brilliant people. It also has commitment and clarity needed by businesses globally … Bitcoin is the strongest asset for long-term national resilience,” Saylor said during the meeting, according to the statement, adding that emerging markets like Pakistan could benefit from early adoption of blockchain finance.

Saylor also reportedly praised Pakistan’s efforts to take a “forward-looking, innovation-friendly stance” in the global digital economy and welcomed the opportunity to advise and support ongoing developments in the country related to digital assets. 

Saylor’s company, Strategy, formerly MicroStrategy, is the world’s largest corporate holder of bitcoin, reportedly holding about 582,000 BTC valued at over $62 billion as of June 2025. The company’s market capitalization has risen from $1.2 billion to over $105 billion since it adopted bitcoin as a core asset in 2020.