Pakistan Announces Strategic Bitcoin Reserve Amid IMF Program
- Pakistan plans to establish a government-led Strategic Bitcoin Reserve.
- The initiative was announced by Bilal Bin Saqib at a Bitcoin Conference.
- Pakistan recently received a $1 billion loan from the International Monetary Fund (IMF).
- The IMF has previously warned against widespread sovereign adoption of cryptocurrencies.
- Pakistan will allocate 2,000 megawatts of electricity for Bitcoin mining operations and AI-powered data centers.
Pakistan’s new cryptocurrency strategy includes setting up a national Bitcoin wallet, intending to treat its holdings as long-term sovereign assets. This move comes shortly after receiving financial aid from the IMF, raising questions about potential conflicts with IMF guidelines on crypto-assets.
Source (2.6)https://coingape.com/pakistan-bitcoin-reserve-imf-scrutiny/?rand=24432
