Pakistan has taken a bold leap into the future of finance by announcing plans to deploy its national Bitcoin reserves into decentralised finance (DeFi) protocols to generate yield. Leading the charge is Bilal Bin Saqib, Pakistan’s recently appointed Special Assistant to the Prime Minister on Crypto and Blockchain, and CEO of the Pakistan Crypto Council.
Inspired by a conversation with Michael Saylor, Executive Chairman of Strategy, Saqib says he was “orange-pilled all over again” during the Bitcoin 2025 conference in Las Vegas. Following this invigorating dialogue, he even invited Saylor to Pakistan, a move that has since snowballed into high-level meetings and strategic decisions.
Bin Saqib spoke with Michael Salyor and Minister Muhammad Aurangzeb on a zoom call in June. (Bilal Bin Saqib)
Saqib’s rise in the crypto policy space has been rapid. Within months, he has gone from launching grassroots initiatives to spearheading Pakistan’s crypto strategy at both national and international levels. His goal? Position Pakistan as a global leader in blockchain innovation and decentralised finance.
From Las Vegas to Islamabad
What started as a chat in Las Vegas has evolved into a national policy. After reconnecting with Saylor in June via Zoom, this time joined by Pakistan’s Finance Minister Muhammad Aurangzeb, the duo formally invited Saylor to become an adviser for Pakistan’s Strategic Bitcoin Reserve. The country’s intent is clear: leverage global expertise to maximise the potential of its crypto holdings.
Notably, Pakistan is not alone in this pursuit. Saqib’s networking in Vegas also included conversations with crypto VC Brock Pierce and American policymakers working on digital asset frameworks. “Bitcoin Vegas wasn’t just a conference,” Saqib explains. “It was a statement, a gathering of minds who believe in building a more inclusive economic future.”
The #GENIUSAct is a turning point for digital finance. Stablecoin clarity & payment modernization all aligned with what the world needs.
As Pakistan is in the process of finalizing its own digital asset framework, we welcome collaboration with like-minded nations advancing… https://t.co/GsHDdx1Yqx
— Bilal bin Saqib MBE (@Bilalbinsaqib) June 18, 2025
Just days after the event, Saqib was at the White House meeting Robert “Bo” Hines, the Executive Director of President Trump’s Council on Digital Assets. Saqib discussed topics ranging from Bitcoin reserves to cross-border knowledge sharing. “We want to learn from the US, especially on wallet frameworks and stablecoin regulation,” he said, highlighting Pakistan’s ambition to absorb global best practices.
A Strategic Bitcoin Reserve: Not Just for Storage
Pakistan’s Strategic Bitcoin Reserve will differ in approach from other nations. Rather than simply holding Bitcoin passively, the country plans to use its crypto assets to generate yield through DeFi protocols. This innovative move transforms Bitcoin from a store of value into an income-generating tool, potentially setting a precedent for other emerging economies.
The Bitcoin to be deployed initially will come from assets seized in criminal cases, which have so far remained idle with law enforcement agencies. Saqib explains that the reserve is not built through active market buying and follows a “budget-neutral” policy. “We will put our Bitcoin on DeFi so we can earn yield on them,” he said.
Furthermore, Pakistan has set aside 2,000 megawatts of surplus electricity to support Bitcoin mining and artificial intelligence infrastructure, further signalling its long-term commitment to blockchain technology and crypto-powered development.
A Unified Crypto Council and Rising Global Recognition
Saqib’s efforts are not solo endeavours. The Pakistan Crypto Council now functions as a single-window system to streamline all crypto-related activities. It includes high-ranking officials such as the finance minister (acting as chairman), the State Bank governor, and the chairman of the Securities and Exchange Commission (SEC).
Alhumdulilah! 🙏🏻
Humbled and honoured to receive the Member of the Order of the British Empire (MBE) medal, awarded by Princess Anne on the recommendation of King Charles for my humanitarian services during COVID-19 in the UK for @onemillionmeals. pic.twitter.com/qUwReDD92O
— Bilal bin Saqib MBE (@Bilalbinsaqib) December 21, 2023
This structured approach has already borne fruit. Pakistan currently ranks 9th in Chainalysis’ 2024 Global Crypto Adoption Index, reflecting its strong grassroots engagement and forward-thinking policy efforts.
In recognition of his wider humanitarian contributions including the One Million Meals initiative during the UK’s COVID-19 crisis, Saqib was honoured with an MBE (Member of the Order of the British Empire) in 2023 by Princess Anne and King Charles. His background as a London School of Economics graduate adds further credibility to his mission of reshaping Pakistan’s digital finance narrative.
Engaging the Youth and Influencing Global Policy
While Pakistan’s government has shown rare political will to embrace crypto, Saqib believes that the future of digital assets hinges on youth activism. He’s calling on Gen Z Bitcoiners around the world to lobby their governments and “orange-pill” ageing politicians.
“The only problem is that people in power, because of their age, have not really interacted with this ecosystem,” he said. “It’s easier to just say no. Nobody went to jail for using Microsoft Office, so they want to play it safe.”
Met Elon Musk’s dad.
Requested that the markets finally have great momentum – let’s not mess it up!The world needs Tesla and Trump in the same group chat! 🙏
Peace and Build pic.twitter.com/eFZKKvCMXY
— Bilal bin Saqib MBE (@Bilalbinsaqib) June 6, 2025
To push adoption further, Saqib advocates for every nation to establish a digital assets committee, arguing that crypto is now “the fastest-growing industry” in the world. In his view, failing to act is equivalent to falling behind in the next global tech revolution.
Saqib is clear about his roadmap: deploy Bitcoin in DeFi, set up robust infrastructure for wallets and stablecoins, and eventually build a mining and AI ecosystem. His ultimate goal is to position Pakistan not just as a participant in the global digital economy, but as a leading force among emerging markets.
Pakistan’s Crypto Policy: Cautious Yet Revolutionary
Pakistan’s strategy is striking a delicate balance between innovation and caution. While the government is avoiding market speculation by not actively purchasing Bitcoin, it is making bold decisions on how to use existing reserves. Deploying idle assets into DeFi for yield generation is a pragmatic and potentially revolutionary move for a developing economy.
With a strong political mandate, increasing international cooperation, and a tech-savvy leader at the helm, Pakistan may soon set an example for how emerging nations can embrace digital assets strategically and responsibly.
