Pakistan’s innovative People own more than $20bn in Crypto more than the Country’s Foreign Reserves

Crypto Currencies have seen a massive increase in their adoption due to their whopping returns on investments all over the world. Pakistan, a country facing server economic challenges, its citizens has more crypto worth $20bn than its entire foreign reserves.

According to the Pakistan Frontier and other media sites citing recent research from the Federation of Pakistan Chambers of Commerce and Industry, the Pakistani nation possesses more cryptocurrencies than foreign reserves (FPCCI). According to the report, Pakistanis possessed cryptocurrencies worth $20 billion in the 2020-21 decade, according to the association’s Policy Advisory Board (PAB).

The authors point out that in recent years, the popularity of digital currencies such as bitcoin has exploded. Pakistan ascended to third place in this year’s Global Crypto Adoption Index, estimated by blockchain forensics firm Chainalysis, with a market increase of 711 percent in a year. Only India and Vietnam are ahead of it. and Pakistanis have more than $20bn in crypto.

The genuine number of crypto assets, on the other hand, could be significantly greater than the figure given in the PAB report. Many citizens of the country are purchasing coins through peer-to-peer transactions, and these investments are usually unnoticed, according to the Business Times.

21 thoughts on “Pakistan’s innovative People own more than $20bn in Crypto more than the Country’s Foreign Reserves”

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