The reason why some countries declare Bitcoin holdings illegal, is because of the inability to see the potential and actual usage of Bitcoin and the advantages that comes along with using Bitcoin, so when the government gets in contact with the knowledge of Bitcoin and consultation is done via the national financial adviser's and heads of central Banks, the government got a misleading information about Bitcoin making Bitcoin look as an attack against the government control over financial dealings with in the country, this made some of the head of government to ban Bitcoin without even knowing it actual advantage to the economy, but things are changing and most countries of the world are getting leaders with advanced knowledge instead of relying on the advice of financial experts who are corrupt, so this is one of such bold step after El Salvador who is the latest among recent Bitcoin buying as a country.

The chances of it being true are very high; since the formation of the crypto council agencies 2 months ago, there have been positive moves by the council to bring crypto to light in the country.

Just a few days ago, they announced the donation of 2,000 MW of electricity to support bitcoin mining and AI technology, but we shouldn't expect less of a positive stand on crypto from them when you look at who the advisor of PCC is, Changpeng Zhao (CZ), and they just signed a contract with WLF, the Trump family crypto company. They are moving all political and at the same time trying to make the nicest move to secure their spot on cryptocurrency.

As far as I know this news is true, Pakistan is setting up a bitcoin reserve fund and the idea is inspired by the US. But similar to Trump's strategic bitcoin reserve, they won't spend money to buy bitcoin, instead they will just use the confiscated bitcoin or possibly use excess energy to mine bitcoin as a reserve. It can be said that this is a significant limitation as well as showing that they are quite cautious with their bitcoin reserve strategy. But anyway this is a very positive signal as they have completely changed their stance from before when they had stated that cryptocurrencies would never be legalized in the country.



https://coinpush.app/pakistan-crypto-minister-bitcoin-strategic-reserve/

That's why it is good to creat or make a good legacy, when the head makes way the leed follow. If it where not from the inspiration derived from other countries like El Salvador that made Bitcoin their legal tender, United States of America Trump lead administration who propounded the Bitcoin strategic reserve asset, and also company like microstrategy who adopted a systematic way of Bitcoin adoption and many other organizations who in one way or the other helped Bitcoin gain massive adoption leading to others following suit. If it where not for these set of people who inspired many people, Bitcoin wouldn't have gained alot of attention. But all these has help many countries to see the light in Bitcoin.

Slowly but surely Bitcoin is increasingly trusted and used by various institutions, and even many countries, that's why I often say that Bitcoin is increasingly clear about its future, and it's about time.

Based on the news I've seen, Pakistan's move to make Bitcoin a strategic reserve is something they follow or are inspired by America, they are even very grateful for it, and I'm sure this is part of the Trump effect. For now, it's still early and starting to be announced, and I hope it really comes true, just like similar plans that are likely to come true in my country.

Source: Cointelegraph - Pakistan announces Bitcoin strategic reserve

You know what, I don't see all these countries as serious, but as copycats of the United States. No one wants to lead by example but follow the steps of the number one country. You would realise that they will only say it, like many other countries, but with no action to back it up. How is that truly serious?

This will be a strategic move for Pakistan and we hope that bitcoin reserves will improve its financial capabilities for the better.
Most countries have started considering bitcoin as a strategic move and many will probably try to do so in the future.
Although Pakistan was not very friendly towards bitcoin in the beginning and now they are starting to think in a new direction towards its implementation then it will be much better for bitcoin itself in the country.

More and more countries are starting to adopt bitcoin and we can see almost all of them who are not friendly are starting to approach bitcoin with different implementations but the goal is the same as what other countries have done.

Such a good news for the crypto holders and as well those in Pakistan and it business associates who are crypto enthusiasts.
The US has really influenced the crypto industries with the proactive of Donald Trumps had pushed the obligations of the United States over Crypto adoption and regulatory policies this is far that others are thrilled of emulating.
I am either not surprised about the Pakistan government making a U-turn decision aftermath being critics with the decentralized digital financial system because as the world economy keep to revolve and countries begin get hit by economy inflations, of course they would have no choice that to embrace the feasible opportunity such as investing on bitcoin to hedge their economy challenges.

This is good news, yesterday I read that Pakistan will mine bitcoin, but it was not clear what their plans are regarding these bitcoins, and today I see that they are already declaring that they will hold it and it seems to me that this is great news, another holder state that wants to have its own bitcoin reserve. I see that states are not ready to buy bitcoin from budget money, but some countries may have excess electricity that can be directed to mining and this is a reasonable decision. I thought that after the example of Bhutan there will be more such countries, but so far everything is not happening so fast...

I hope that will happen soon after they prepare everything. This will give a good thing also for their people because they see their country realize the good thing about Bitcoin investment and use it for their strategic reserve. Their people can also use Bitcoin as their investment and it is a good move that can be follow by other countries near to them. We will soon see more countries will use Bitcoin as their reserve and affect to people to use Bitcoin globally.