Pakistan Engages Michael Saylor for Bitcoin Strategy Amid Policy Shifts

Pakistan has taken a significant step towards developing a state-level Bitcoin strategy by engaging with Michael Saylor, a prominent entrepreneur and Bitcoin advocate. On June 15, Saylor held a video meeting with Finance Minister Muhammad Aurangzeb and Minister of State for Blockchain and Crypto Bilal Bin Saqib to discuss the potential integration of Bitcoin into the country's sovereign reserves. The Finance Ministry described the meeting as a "milestone" in Pakistan's digital-assets agenda, and Saylor offered to continue advising in an advisory capacity.

The discussion focused on whether Bitcoin could enhance monetary resilience in an economy that has traditionally relied on dollar liquidity and IMF support. Saylor, known for transforming a mid-tier software vendor into a $100-billion market-cap vehicle for Bitcoin exposure, presented Bitcoin as a robust instrument for long-term national resilience. He suggested that Pakistan could seize a "once-in-a-generation opportunity" to advance into the future of finance, emphasizing that digital scarcity is a solution to fiat debasement.

During the video meeting, Saylor highlighted the importance of leadership and reputational credibility in attracting capital flows. He advised that if the world trusts Pakistan and hears its words, capital and capability will flow to the country. Aurangzeb, who heads the newly created Pakistan Crypto Council (PCC), expressed Pakistan's aspiration to lead the Global South in the development and adoption of digital assets, setting a benchmark for innovation, regulation, and inclusive growth. Saqib noted that Saylor's trajectory proves that Bitcoin now carries "sovereign-grade" status, and Pakistan has the talent, story, and energy to achieve similar success.

Saylor's credibility is bolstered by his firm Strategy's 582,000-Bitcoin cache, valued at roughly $61 billion, amassed through successive equity and debt offerings since 2020. His endorsement comes as Pakistan works to codify rules for custody, mining, and taxation. The PCC, launched in March, has formed a technical committee for a draft Digital-Assets Act and is coordinating with the State Bank of Pakistan, the Securities and Exchange Commission, and the Financial Action Task Force. Parallel legislation aims to create the Pakistan Virtual Assets Regulatory Authority (PVARA) as an umbrella watchdog.

However, the legal landscape remains contested. Senior State Bank officials recently reminded lawmakers that cryptocurrency is still banned under existing directives, and enforcement cases are being forwarded to law-enforcement agencies. This juxtaposition of an official Bitcoin reserve with a de jure ban has created a "policy in disarray." Despite this, Pakistan's political leadership has accelerated operational plans. In late May, Saqib unveiled a state-managed Bitcoin cold wallet at the Bitcoin 2025 conference in Las Vegas and secured Cabinet approval to dedicate 2,000 megawatts of surplus power for Bitcoin mining and AI data-centre workloads. This energy policy is seen as a way to monetize excess generation capacity while building a strategic stockpile of BTC that could diversify external reserves currently dominated by dollars and gold.

Saylor's expected advisory remit has not yet been formalised, and neither side disclosed whether Strategy would take a commercial stake. However, the meeting underscores Pakistan's intent to import not just technology but also intellectual capital. Saqib, fresh from a US roadshow, noted that Pakistan is establishing itself as a key player in the global cryptocurrency economy and setting trends rather than following them. For now, the largest obstacle remains regulatory coherence. A sovereign Bitcoin reserve, ministerial advocacy, and Saylor's star power have vaulted Pakistan into the global spotlight, but a statutory framework acceptable to both domestic regulators and the IMF will determine whether the country can convert momentum into durable policy.