March 2, 2025
In a landmark decision, President Donald Trump announced today the inclusion of five major cryptocurrencies—Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA)—into the newly established U.S. Crypto Strategic Reserve. This initiative is part of the administration’s efforts to position the United States as a leader in the digital asset economy.
The announcement led to immediate and significant surges in cryptocurrency markets:
- Bitcoin (BTC): Increased by approximately 8%, reaching $90,828.
- Ethereum (ETH): Rose by 8.3%, trading at $2,409.
- XRP: Jumped over 37%.
- Solana (SOL): Climbed by 23%.
- Cardano (ADA): Surged more than 68%.
This strategic move aligns with President Trump’s January executive order, which established the Presidential Working Group on Digital Asset Markets to strengthen U.S. leadership in digital finance. The group is tasked with developing a federal regulatory framework governing digital assets and evaluating the creation of a strategic national digital assets stockpile.
The specifics of implementing this crypto reserve are still under discussion. Debates are ongoing regarding whether congressional approval is necessary or if the reserve can be established using the U.S. Treasury’s Exchange Stabilization Fund. Further details are anticipated to be addressed during the upcoming White House Crypto Summit scheduled for Friday.
In Pakistan, the response to this development is mixed. The State Bank of Pakistan (SBP) maintains a cautious stance on cryptocurrencies, citing concerns over potential misuse for illegal activities. An SBP official reiterated that virtual currencies like Bitcoin are neither legal tender nor authorized by the government, and financial institutions are advised against facilitating cryptocurrency transactions.
Conversely, Pakistani crypto advocate Waqar Zaka has long championed the integration of Bitcoin into national reserves. Since 2015, Zaka has argued that adopting cryptocurrencies could help Pakistan address its debt challenges. He points to the U.S. administration’s recent pro-crypto policies as validation of his stance and urges Pakistani authorities to reconsider their position on digital assets.
As the global financial landscape evolves with the integration of digital assets, Pakistan faces a pivotal decision: to reassess its cryptocurrency policies or risk lagging behind in the rapidly advancing digital economy.
