Bitcoin (BTC) Reaches PKR 30,968,690.23, Surpassing Expectations

On Monday, May 26, 2025, the price of Bitcoin (BTC) reached PKR 30,968,690.23, slightly increasing from the closing price of PKR 30,618,978.08

The price of Bitcoin (BTC) rose slightly on Monday, reaching PKR 30,968,690.23 by 07:00 ET (12:00 GMT). This was a minor increase from the closing price of PKR 30,618,978.08 recorded on Sunday.

Crypto exchange Coinbase's fourth-quarter profits surpassed expectations, which were attributed to heightened trading activity in Bitcoin and other cryptocurrencies following the U.S. presidential election.

Market excitement surrounding cryptocurrencies intensified after Donald Trump's victory in the November election, propelling Bitcoin's value to surpass $100,000 during the quarter. Investors expressed optimism about the potential for more favorable regulatory conditions for cryptocurrencies under the new administration.

However, it's worth noting that in 2018, the State Bank of Pakistan (SBP) issued a caution to commercial and general banks regarding the handling of cryptocurrencies such as Bitcoin and Litecoin.

What is Bitcoin?

Bitcoin is a digital currency that is created and managed using computer code. Unlike traditional currencies such as the US dollar or euro, which are centrally controlled by banks or governments, Bitcoin is a peer-to-peer currency, meaning it is managed by its users.

Proponents of Bitcoin argue that this decentralized structure makes it a more efficient alternative to traditional money and renders it immune to governmental actions such as currency devaluation aimed at boosting trade.

Bitcoin can be used to buy goods and services from merchants who accept it or to trade for other currencies, such as the US dollar or British pound, at agreed-upon exchange rates.

Where does it come from?

Bitcoin (BTC) was introduced in 2009 by an unknown individual or group known as Satoshi Nakamoto through the creation of encrypted software. In 2022, Australian entrepreneur Craig Wright claimed to be the original creator of Bitcoin, but his assertion has been met with skepticism.

Since the introduction of Bitcoin, several other cryptocurrencies, also known as "altcoins," have been developed and introduced. However, BTC remains the best-known cryptocurrency and is increasingly being accepted by merchants for payment transactions.

Transactions are validated through encrypted codes that are shared across a computer network, which collectively keeps track of the transactions to ensure that no BTC is spent more than once. Users can "mine" new Bitcoins by performing complex computational processes, but the system limits the total supply to 21 million Bitcoins, setting a cap on its availability.

This article is intended for informational purposes only and does not constitute trading or financial advice. Always confirm prices with a broker before making any transactions or investments.

Exchange rates mentioned should not be considered investment advice, and no recommendations are made regarding the purchase, sale, or retention of any securities or financial products.output: The price of Bitcoin (BTC) rose slightly on Monday, reaching PKR 30,968,690.23 by 07:00 ET (12:00 GMT). This was a minor increase from the closing price of PKR 30,618,978.08 recorded on Sunday.

Crypto exchange Coinbase's fourth-quarter profits surpassed expectations, which were attributed to heightened trading activity in Bitcoin and other cryptocurrencies following the U.S. presidential election.

As reported by the San Francisco-based exchange, net profit for the period totaled $900 million, exceeding the average estimate of $766.10 million by seven analysts, as compiled by Bloomberg. In the third quarter of 2020, Coinbase had reported a profit of $404.4 million.

The market excitement surrounding cryptocurrencies intensified after Donald Trump's victory in the November election, propelling Bitcoin's value to surpass $100,000 during the quarter. Investors expressed optimism about the potential for more favorable regulatory conditions for cryptocurrencies under the new administration.

However, it's worth noting that in 2018, the State Bank of Pakistan (SBP) issued a caution to commercial and general banks regarding the handling of cryptocurrencies such as Bitcoin and Litecoin.

The central bank advised banks to exercise caution and take necessary steps to mitigate risks associated with cryptocurrencies, warning that they could have macroeconomic and financial stability implications for the country.

SBP spokesperson Abidullah R Khan highlighted the volatility of cryptocurrencies and the potential for money laundering and other illegal activities, urging banks to remain vigilant in their dealings with cryptocurrencies.

In response to inquiries from Express Tech, a spokesperson for Coinbase provided a statement emphasizing the company's strong performance and commitment to innovation in the cryptocurrency industry.

"We are pleased to report another quarter of record revenue and profit, driven by robust demand for crypto products and services, and we continue to invest in new products and technologies to serve our customers and partners around the world," the spokesperson stated