Minister of State and Chief Executive Officer (CEO) of the Pakistan Crypto Council (PCC) Bilal bin Saqib took to social media to highlight the recent surge in Bitcoin’s (BTC) price. In his post on X (formerly Twitter), the PCC chief referred to a tweet he posted in 2018, expressing confidence that BTC’s value would not fall below the $8,000 support level.
Seven years later, the price of bitcoin has skyrocketed to an astronomical $124,000, an all-time high which was achieved on Thursday, after which the price dipped slightly. According to the PCC’s CEO, BTC is now “leading Pakistan’s Bitcoin Strategic Reserve”.
The federal government has been taking strides to establish itself as a digital asset hub. These efforts include the launch of the PCC in March 2025, the creation of the regulatory body Pakistan Virtual Assets Regulatory Authority (PVARA), and the formation of the first-ever government-led Strategic Bitcoin Reserve at the ‘Bitcoin Vegas 2025’ in Las Vegas, United States.
As per the PCC’s CEO, “2018’s overlooked asset became 2025’s crown jewel”. His statement holds merit as the value of bitcoin has surged by a staggering $116,000 since March 2018, translating into a whopping 1450 percent increase in the price of the cryptocurrency.
Last week, the PCC’s CEO also revealed how he had been tracking Ethereum’s (ETH) explosive growth since 2018, a time when “most called it a scam”. Since then, ETH has witnessed a growth in value of 900 percent, as its value jumped from a conservative $430 to a respectable $4,300.
He highlighted how “Pakistan is today’s undervalued play and the payoff will be far greater than anyone dares to imagine”. The PCC’s CEO’s statement is in line with earlier remarks made when Pakistan’s strategic bitcoin reserve was created, as he outlined how holding digital assets by the state was “not for sale or speculation, but as a sovereign reserve signalling long-term belief in decentralised finance.”
If Pakistan manages to hold a sizable amount of crypto, its value could increase exponentially in the coming years. However, it merits a mention that the value of cryptocurrencies is highly volatile and is subject to large swings in prices.
For reference, the price of bitcoin fell by approximately $5,000 after hitting an all-time high on Thursday. As of publishing, one bitcoin is trading at a price of about $119,000.
Netizens expressed great pleasure over Pakistan’s recent crypto developments, with one social media user believing that “Pakistan’s $BTC reserve will be talked about in textbooks one day”. Another user praised the PCC’s CEO for his work, suggesting that his efforts were “truly shaping a brighter future”.