Crypto Council head Bilal Bin Saqib credited the United States and Donald Trump’s pro-Bitcoin leadership as key inspiration for the shift. Pakistan’s pivot was made amid major reforms, including forming a Digital Asset Authority, allocating 2,000 megawatts of energy to crypto mining, and appointing Binance’s CZ as an adviser. Meanwhile, US officials like David Sacks and Vice President JD Vance were also at the Bitcoin 2025 conference, and talked about the growing federal interest in expanding Bitcoin reserves. Vance urged Bitcoiners to stay engaged in the political engagement.
Pakistan Sets Up Bitcoin Strategic Reserve
Pakistan made a historic shift in its stance on cryptocurrencies, with the announcement of a government-led Bitcoin Strategic Reserve. Bilal Bin Saqib, the head of Pakistan’s crypto council, made the announcement during the Bitcoin 2025 conference held in Las Vegas on May 28.
The move makes Pakistan one of the growing number of nations embracing crypto, following in the footsteps of the United States under the administration of President Donald Trump. Saqib mentioned this inspiration,and stated that, “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.”
Bilal Bin Saqib at the Bitcoin 2025 conference
This announcement is a dramatic departure from Pakistan’s previously hostile stance on cryptocurrencies. Not long ago, the government held firm that digital assets would never be legalized in the country. However, with geopolitical shifts and increasing global momentum toward digital asset adoption, Pakistan quickly reversed its position and is now actively pursuing a pro-crypto agenda.
The journey toward this strategic pivot began in February of 2025 when the idea of a National Crypto Council was proposed. The Council was tasked with designing a regulatory framework for cryptocurrencies and encouraging foreign investment. Key initiatives from the Council included leveraging the country’s excess energy to support Bitcoin mining and high-performance computing. Pakistan allocated 2,000 megawatts of surplus power in May 2025 to support these initiatives.
Adding even more credibility to its crypto ambitions, the Council appointed Binance co-founder Changpeng Zhao as an adviser in April. Zhao will guide the development of blockchain infrastructure, regulations, and overall digital asset adoption.
On April 27, Trump’s World Liberty Financial (WLFI) signed a letter of intent with Pakistan to support the country in tokenizing real-world assets and developing decentralized finance (DeFi) products. Additionally, in May 2025, Pakistan’s Ministry of Finance also greenlit the creation of a Digital Asset Authority, which is a dedicated body that will oversee crypto regulation and issue licenses to service providers in the digital asset space.
US Could Buy More Bitcoin
The US could soon inspire even more countries to turn to Bitcoin as the White House AI and crypto czar David Sacks opened the door to the possibility of the United States government buying even more Bitcoin. This could be the case provided it can be done in a way that doesn’t increase the national debt or impose new taxes.
At the Bitcoin 2025 conference during a fireside chat with Gemini co-founders Cameron and Tyler Winklevoss on May 27, Sacks said the government already has the legal framework to expand its Bitcoin holdings—but only if the Commerce or Treasury departments can identify a budget-neutral method to fund such a purchase.
Sacks said that while there are no guarantees, the executive order issued on March 6 gives the federal government the authority to create a crypto reserve that includes not only Bitcoin seized through criminal or civil asset forfeiture, but also Bitcoin that can be legally purchased if financed responsibly. The decision to increase the reserve will ultimately rest with Commerce Secretary Howard Lutnick or Treasury Secretary Scott Besson, who would need to find funding from underutilized programs or other existing sources in the federal budget.
According to Sacks, the structure is already in place: “The question is, can we get either the Treasury Department or the Commerce Department to get excited about that because if they do and they can figure out how to fund it, they actually do have presidential authorization.” This could signal a potential policy shift toward more proactive Bitcoin acquisition by the US government, depending on internal budgetary decisions.
Government Bitcoin holdings (Source: CoinGecko)
The US government currently holds approximately 198,012 Bitcoin, which is worth over $21 billion at current prices. These holdings primarily stem from major seizures, including 69,370 Bitcoin from the Silk Road case in 2020, 51,351 Bitcoin in a follow-up seizure in 2022, and another 94,636 Bitcoin that was confiscated from Bitfinex hacker Ilya Lichtenstein in 2022.
In March 2023, the government sold a portion of its holdings—9,861 Bitcoin—for around $215.7 million. The Department of Justice has also been cleared to sell the full 198,109 Bitcoin it holds.
JD Vance Urges Bitcoiners to Get Political
United States Vice President JD Vance also delivered a keynote address at the Bitcoin 2025 conference, and called on the Bitcoin community to stay politically engaged and proactive. He placed a lot of emphasis on the growing importance of Bitcoin on a geopolitical level, and urged Bitcoiners to leverage their political momentum from 2024 and carry it forward into future election cycles as political forces will inevitably impact the future of transformative technologies like Bitcoin.
JD Vance at Bitcoin 2024
“What happens in the world of politics, what happens in the world of bureaucracy, will affect even the most transformational and valuable technologies if we do not make the right decisions,” Vance said, stressing that the crypto industry can no longer afford to stay on the political sidelines. He added, “Politics is not going to ignore this community, not now, and not in the future.”
Bitcoin quickly gained a lot of institutional credibility and is increasingly being seen as a macroeconomic and strategic asset on the global stage. With sovereign powers engaging in what analysts describe as a geopolitical race to acquire BTC, the digital currency is now recognized as more than just a speculative investment—it is a matter of national interest. Bitcoin advocates argue that countries failing to accumulate BTC may find themselves at a huge disadvantage as its scarcity and store-of-value properties become more widely appreciated.
The shift in sentiment was amplified by the pro-crypto stance of President Donald Trump, whose administration established a Bitcoin strategic reserve and a crypto advisory council. These moves set a precedent that influenced other governments to rethink their own digital asset strategies. India, for example, is now reassessing its crypto policies, with Economic Affairs Secretary Ajay Seth acknowledging that digital assets operate beyond national borders and require new approaches to regulation.
