In a surprising shift from past policies, Pakistan has taken bold steps to embrace cryptocurrency and blockchain technology. With official meetings on Wall Street, discussions at the White House, and plans to create a national Bitcoin reserve, Pakistan is signaling a serious move toward digital innovation. But what does this mean for its economy, energy usage, and international partnerships?
Summary:
Pakistan’s Strategic Bitcoin Reserve: A New Era in Digital Assets
Until recently, Pakistan had a firm stance against the legalization of cryptocurrencies. That changed dramatically in May 2025 when the government officially announced plans to set up a Strategic Bitcoin Reserve, inspired by recent developments in the United States.
Bilal Bin Saqib, Pakistan’s newly appointed Minister of State for Crypto and Blockchain, revealed the plan at the Bitcoin 2025 conference in Las Vegas. Standing before an international audience, he declared Pakistan’s intention to be a global player in digital finance.
This move marks a major change in national policy and reflects the growing belief within the Pakistani government that digital assets can play a role in economic modernization and financial inclusion.
Why This Is a Big Deal
- Global Trend: Several countries are exploring Bitcoin reserves as part of economic strategy.
- Inspiration from the U.S.: Pakistan is modeling some of its crypto policies on the emerging American framework.
- Digital Transformation: This effort is part of a broader plan to digitize national infrastructure.
High-Level Engagements: Bilal Bin Saqib Meets U.S. Crypto Leaders
June 6, 2025 Bilal Bin Saqib held meetings with key figures in New York City, including Brandon Lutnick, CEO of Cantor Fitzgerald, and Mayor Eric Adams. These meetings were not ceremonial. They were deep discussions about:
- Tokenization of real-world assets
- Institutional Bitcoin mining
- Regulation of decentralized finance (DeFi)
- Cross-border cooperation on blockchain governance
Cantor Fitzgerald, with over $80 billion in assets under management, is already deeply involved in digital asset financing. Saqib’s meeting with Lutnick explored new ways to build a shared digital asset infrastructure between Pakistan and the U.S.
Meanwhile, NYC Mayor Eric Adams, a known Bitcoin advocate, welcomed collaboration on launching Bitcoin bonds and expanding crypto services across both cities.
These visits suggest Pakistan is not just testing the waters – it’s actively forging high-level international alliances to fuel its crypto ambitions.
Cantor Fitzgerald’s Role in Pakistan’s Web3 Ambitions
Cantor Fitzgerald, a 78-year-old Wall Street firm, has been increasingly interested in blockchain over the past year. Reports indicate that the firm is working with SoftBank, Tether, and Bitfinex to launch a $3 billion crypto acquisition company.
Pakistan’s interest in working with Cantor is strategic:
Through its connection with Cantor, Pakistan may be able to:
Gain institutional-grade crypto services, Learn from U.S. regulations and best practices, Attract global investment into its Web3 ecosystem.
NYC Mayor Eric Adams and Pakistan: Bridging Crypto Initiatives
Mayor Eric Adams has often promoted New York City as a future crypto capital. His vision includes:
- Bitcoin bonds issued by the city
- Crypto education in public schools
- Expanded blockchain adoption in public services
When Bilal Bin Saqib met Adams, the two reportedly discussed how Pakistan and New York could collaborate on blockchain education, financial innovation, and city-level crypto infrastructure. Saqib referred to the meeting with a symbolic phrase: “New York is Lahore.”
This implies an aspiration for Lahore, Pakistan’s tech hub, to become a crypto innovation center much like NYC. The meeting represents a bridge between emerging markets and established crypto economies.
Allocating Surplus Energy: Pakistan’s Bold Move into Bitcoin Mining
In a move that has sparked both praise and concern, Pakistan announced it will allocate 2,000 megawatts of surplus electricity specifically for Bitcoin mining and AI data centers.
The Rationale Behind It
Energy Utilization: Pakistan often has excess power during off-peak seasons, which goes unused. Job Creation: Mining and AI zones are expected to create high-tech employment opportunities. Economic Boost: Monetizing unused energy can contribute to the national GDP.
By converting surplus power into digital productivity, Pakistan hopes to:
- Build a local mining ecosystem
- Support AI development
- Attract foreign investors seeking low-cost mining facilities
IMF Raises Eyebrows: Concerns Over Pakistan’s Crypto Energy Plans
While the plan to use surplus energy sounds promising, the International Monetary Fund (IMF) has expressed serious concerns. As of May 31, 2025, the IMF formally asked the Pakistan Finance Ministry to clarify the legality and implications of allocating electricity for Bitcoin mining.
IMF’s Concerns Include:
Energy Security: Pakistan already faces periodic power shortages. Fiscal Responsibility: How will crypto investments impact national debt and IMF loan programs? Regulatory Clarity: The IMF wants assurance that Pakistan’s crypto framework is legal and well-regulated.
Pakistan’s government has yet to publicly respond in detail, but officials have hinted that a national legal framework for crypto regulation is in progress.
Future Outlook: Pakistan’s Position in the Global Crypto Landscape
With its new strategy, Pakistan is positioning itself to become a major player in global digital finance. Several steps have been taken:
- Creation of the Pakistan Digital Assets Authority (PDAA) to regulate digital asset providers
- Partnership with World Liberty Financial to build DeFi infrastructure
- Appointment of Binance co-founder Changpeng Zhao as crypto adviser
These developments suggest that Pakistan is serious about long-term crypto adoption, not just short-term trends.
What This Could Mean:
Increased Global Investment: Clear regulations and a national crypto strategy will likely attract investors. Digital Literacy and Innovation: Education and tech investment will boost digital skills across the population. Geopolitical Influence: Partnerships with U.S. institutions and Trump-affiliated crypto bodies may elevate Pakistan’s global status in blockchain governance.
Final Thoughts
Pakistan’s crypto plan is a clear signal that the country is preparing to embrace a future powered by blockchain, Bitcoin, and digital innovation. From building a national Bitcoin reserve to negotiating with Wall Street and the White House, Pakistan is moving fast and decisively.
The plan is ambitious, with both opportunities and challenges. But if successful, it could redefine Pakistan’s economy, modernize its infrastructure, and place the country among the leaders of the global crypto economy.
