Pakistan’s Shocking Bitcoin Move: A Game Changer or Just Hype?

Pakistan has just made one of the most unexpected crypto moves of the year—proposing to use surplus energy for Bitcoin mining. This decision marks a dramatic shift from its previous anti-crypto stance and aligns with the global wave of pro-Bitcoin policies, especially after Donald Trump’s recent executive orders supporting digital assets. But is this a true revolution for Pakistan, or just another political shift with no real impact?

Pakistan’s Big Crypto Pivot

The newly-formed Crypto Council, led by CEO Bilal Bin Saqib, unveiled the plan during its first-ever meeting on March 21. The proposal, backed by top government officials, aims to turn Pakistan into a crypto hub by using its excess energy to mine Bitcoin. Senator Muhammad Aurangzeb called it a turning point for the country’s digital economy, promoting financial transparency and attracting foreign investment.

This is a massive U-turn from Pakistan’s previous stance. Just last year, officials insisted that crypto would never be legalized due to FATF compliance concerns. However, the landscape shifted dramatically on November 4, 2024, when Pakistan decided to regulate cryptocurrencies as legal tender. What changed? Global momentum.

Trump’s Bitcoin Influence

Many believe Pakistan’s decision was influenced by the recent pro-crypto push from the United States. After securing re-election, Donald Trump wasted no time in rolling out Bitcoin-friendly policies. His administration banned the development of a US Central Bank Digital Currency (CBDC), established a Bitcoin strategic reserve, and proposed using gold-backed certificates to buy more Bitcoin. This aggressive approach to digital assets has already sparked global reactions, and Pakistan appears to be following suit.

The US Gold-to-Bitcoin Plan

Trump’s administration isn’t just talking about Bitcoin—it’s making serious moves. Bo Hines, the executive director of the President’s Council of Advisers on Digital Assets, revealed that the government is exploring the revaluation of its undervalued gold certificates. Currently priced at just $42.22 per ounce, these certificates could be adjusted to match gold’s market value of over $3,000 per ounce. The resulting surplus could fund massive Bitcoin purchases without burdening taxpayers.

With the US government already holding 207,000 BTC, this strategy could cement Bitcoin’s role as a national strategic asset. Commerce Secretary Howard Lutnick echoed this sentiment, emphasizing Bitcoin’s unique role in the administration’s digital asset framework.

Strategy Prepares for Another Bitcoin Buy

Meanwhile, Bitcoin’s biggest corporate bull, Michael Saylor, is gearing up for another massive purchase. After raising $711 million through a preferred stock sale, Strategy is likely preparing to increase its Bitcoin holdings yet again. In a cryptic post on X, Saylor hinted at another buy, reinforcing his long-term strategy of relentless accumulation.

Saylor, who has been one of Bitcoin’s loudest advocates, is now pushing for the US government to acquire 25% of Bitcoin’s total supply by 2035. At the recent Blockworks Digital Asset Summit, he delivered a fiery speech titled “21 Truths of Bitcoin,” where he declared that Bitcoin is the only valuable commodity in human history.

Is Pakistan’s Move More Than Just Hype?

Pakistan’s sudden crypto shift has sent shockwaves through the industry. If implemented correctly, it could position the country as a serious player in the Bitcoin mining sector. But is this a genuine long-term strategy or just another policy flip driven by political trends?

With global Bitcoin adoption accelerating and major players like the US and Strategy making bold moves, Pakistan’s decision to embrace Bitcoin mining could either be a masterstroke or a fleeting headline. One thing is certain—crypto’s influence on global finance is only getting stronger.