Bitcoin (BTC) price in Pakistan Rupees (PKR) was recorded at 23,405,420.01

The price of Bitcoin (BTC) was recorded at 23,405,420.01 in Pakistani Rupees (PKR) (approximately Rs 23.4 million)

The price of Bitcoin (BTC) was recorded at 23,405,420.11 in Pakistani Rupees (PKR) (approximately Rs 23.4 million) on Saturday, March 29, 2025, compared with the rate of PKR 23,637,065.50 at closing on March 28, 2025.

The cryptocurrency exchange Coinbase exceeded estimates for fourth-quarter profit, attributing the gains to higher trading volumes in bitcoin and other digital tokens following the U.S. election.

Unprecedented interest in crypto, sparked by Donald Trump's victory in the November presidential election, propelled BTC to surpass $100,000 in the quarter as investors anticipated more crypto-friendly policies under the new administration.

It is crucial to note that in 2018, the State Bank of Pakistan (SBP) issued a notice cautioning commercial and general banks against engaging with cryptocurrencies such as Bitcoin or Litecoin.

What is Bitcoin?

Bitcoin is a virtual currency derived from computer code. Unlike real-world units like the US dollar or euro, it lacks a central bank and is not backed by any government.

Instead, BTC's community of users governs and regulates it. Proponents highlight this aspect, claiming it renders Bitcoin an efficient alternative to traditional currencies as it is not susceptible to a state's actions, such as devaluing its currency to promote exports.

Similar to other currencies, BTCs can be exchanged for goods and services—or other currencies—provided the other party is willing to accept them.

Where does it come from?

Bitcoin was launched in 2009 as a segment of encrypted software created by someone using the Japanese-sounding name Satoshi Nakamoto.

Last year, a secretive Australian entrepreneur, Craig Wright, asserted that he was the creator of Bitcoin, although some have expressed skepticism towards his claim.

Following Bitcoin, hundreds of other digital currencies emerged, but Bitcoin remains the most popular by far, with an increasing number of merchants accepting digital currencies for payments.

Transactions occur when heavily encrypted codes are transmitted across a computer network. The network collectively monitors and verifies the transaction in a process designed to ensure that no single Bitcoin can be spent in more than one place simultaneously.

Users can "mine" Bitcoins—introducing new ones—by having their computers perform complex and increasingly difficult processes.

However, the model has limitations, and only 21 million units will ever be created.

Note: The price of bitcoin is volatile and subject to rapid fluctuations. For the latest rates and financial guidance, consult an expert or a trustworthy exchange. We are not responsible for any decisions made based on this information.