The price of Bitcoin (BTC) was recorded at 24,048,376.92 in Pakistani Rupees (PKR) on Thursday, March 20, 2025 (approximately Rs 24.04 million), compared with the rate of PKR 24,142,012.14 at closing on March 19, 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 Pakistani rupee latest exchange rate; March 20, 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. Advocates say this 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.
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.
Users can “mine” Bitcoins — bring new ones into being — by having their computers run complicated and increasingly difficult processes.
However, the model is limited and only 21 million units will ever be created.
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.
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