BTC to PKR: Conversion rate; March 17, 2025

The price of Bitcoin (BTC) was recorded at 23,438,842.98 in Pakistani Rupees (PKR) on Monday, March 17, 2025 (approximately Rs 23.05 million), compared with the rate of PKR 22,941,465.74 at closing on March 16, 2025.

In the fourth quarter of the previous year, cryptocurrency exchange Coin base reported a remarkable financial performance, significantly surpassing market expectations for its profits.

This positive outcome was primarily driven by a substantial increase in trading volumes for Bitcoin (BTC) and a variety of other digital currencies, a trend that closely followed the U.S. elections.

The pivotal moment came with Donald Trump’s election victory in November, which ignited a wave of renewed interest in the cryptocurrency market. Many investors speculated that his administration would enact policies more favorable to cryptocurrencies, leading to heightened market optimism.

As a direct result, BTC prices soared, surpassing the significant milestone of $100,000 during that quarter.

This surge reflected not only a bullish sentiment in crypto trading but also an increasing acceptance of digital currencies among mainstream investors, looking to capitalise on potential gains fueled by anticipated regulatory shifts.

However, amidst this booming landscape in many parts of the world, it is crucial to be aware of cryptocurrencies’ regulatory challenges in various jurisdictions.

For instance, in 2018, the State Bank of Pakistan (SBP) issued a formal notification warning both commercial banks and the general public against engaging in cryptocurrency transactions, specifically naming BTC and Litecoin.

This cautionary stance highlighted ongoing concerns regarding the risks associated with digital currencies, including their potential for use in illicit activities and the volatility that can lead to significant financial losses for uninformed investors.

Read More: Saudi Riyal to Pakistani rupee rate; March 17, 2025

This information is not intended for trading or financial advice. Please confirm pricing with your broker before making transactions or investments. The exchange rate should not be considered investment advice, and it’s not recommended to buy, sell, or hold any securities or financial products.

Bitcoin (BTC): What is it?

Bitcoin (BTC) is a type of cryptocurrency, also called digital currency intended to function as a medium of exchange and a payment method independent of any individual, organization, or authority. This eliminates the requirement for trusted mediators, such as banks or mints, in financial transactions.

Where does it come from?

BTC 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.

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.