Bitcoin (BTC) price in Pakistani Rupees (PKR)

The price of Bitcoin (BTC) was recorded at 24,407,916.37 in Pakistani Rupees (PKR) on Monday, March 24, 2025

The price of Bitcoin (BTC) was recorded at 24,407,916.37 in Pakistani Rupees (PKR) on Monday, March 24, 2025 (approximately Rs 24.04 million), compared with the rate of PKR 23,879,510.40 at closing on March 23, 2025.

Crypto exchange Coinbase beat estimates for fourth-quarter profit, driven by higher trading volumes in bitcoin and other digital tokens following the U.S. election.

Unprecedented interest in crypto, fueled by Donald Trump’s victory in the November presidential election, pushed BTC beyond $100,000 in the quarter as investors anticipated more crypto-friendly policies under the new administration.

It is pertinent to mention that in 2018, the State Bank of Pakistan (SBP), issued a notice in which it warned commercial banks and general banks against the use of cryptocurrencies like Bitcoin or Litecoin.

Read More: Omani Riyal to PKR: Latest exchange rate; March 24, 2025

What is Bitcoin?

Bitcoin is a virtual currency created from computer code. Unlike a real-world unit such as the US dollar or euro, it has no central bank and is not backed by any government.

Instead, BTC’s community of users controls and regulates it.

According to Bitcoin's website, it is an "open-source protocol" that "anybody can contribute to and use".

This lack of ties to any state makes it an efficient alternative to traditional currencies because it is not subject to the whims of a state that may devalue its money to boost exports, for example.

Just like 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 bit of encrypted software written by someone using the Japanese-sounding name Satoshi Nakamoto.

Last year secretive Australian entrepreneur Craig Wright said he was the creator of Bitcoin, but some have raised doubts over his claim.

According to Bitcoin's website, Nakamoto "gradually disappeared from the project and passed the mantle of maintenance to other developers".

This lack of a central point of contact makes it difficult for any one person or group to take control of the currency, which is a feature that appeals to some users.

This lack of a central point of contact makes it difficult for any one person or group to take control of the currency, which is a feature that appeals to some users.

According to the platform, "A large and active community of developers, academics, and entrepreneurs is working to advance the technology. Anyone can participate.

Hundreds of other digital currencies followed but Bitcoin is by far the most popular, with an increasing number of merchants accepting digital currencies for payments.

Transactions happen when heavily encrypted codes are passed across a computer network. The network as a whole monitor and verifies the transaction in a process that is intended to ensure no single Bitcoin can be spent in more than one place simultaneously.

According to Bitcoin's website, the transactions are "collected into blocks and chained together in a chronological order, forming the blockchain".

This is a public ledger that can be viewed by anyone and serves as the foundation of trust in the system.

Users can “mine” Bitcoins — bring new ones into being — by having their computers run complicated and increasingly difficult processes.

This activity is said to help to secure the network and in return miners are rewarded with new coins and transaction fees.

However, the model is limited and only 21 million units will ever be created. At the end of January 2023, there were 21 million units in circulation.

This model is in contrast to fiat currencies, which can be printed in unlimited amounts, leading some to fear that they will be devalued.

According to Bitcoin's website, the total number of coins in circulation will never exceed 21 million and this scarcity is often cited as a key factor in Bitcoin's appeal.

This scarcity is often cited as a key factor in Bitcoin's appeal. It is also a factor that drives up the price of BTC, which serves as an incentive for miners to continue securing the network and processing transactions.

Note: The price of bitcoin is erratic and subject to sudden fluctuations. Speak with an expert or a trustworthy exchange for up-to-date rates and financial guidance. Decisions made with this information are not our responsibility.