On Wednesday, June 04, 2025, Bitcoin (BTC) traded at PKR 29,608,755.81 (approximately Rs 29.608 million), marking a slight decrease from the previous day's closing rate of PKR 29,323,780.72 on June 03, 2025.
Coinbase, a major cryptocurrency exchange, reported stronger-than-expected profits for the fourth quarter, crediting the surge in Bitcoin and crypto trading activity following the U.S. election.
Donald Trump’s victory in the November presidential election sparked excitement around cryptocurrencies, pushing Bitcoin’s value past \$100,000 during the quarter. Investors became increasingly optimistic about the possibility of more favorable cryptocurrency regulations under the new administration.
The State Bank of Pakistan (SBP) issued a warning in 2018, advising commercial and general banks not to handle cryptocurrencies such as Bitcoin or Litecoin.
Note: Bitcoin’s price changes rapidly due to its high volatility. Always consult a professional or check a reliable exchange for the most up-to-date rates and financial advice. We do not take responsibility for any decisions made based on this information.
What is Bitcoin?
Bitcoin operates as a digital currency built on computer code. Unlike traditional currencies such as the US dollar or euro, no central bank controls it, nor does any government back it. Instead, its global community of users manages and regulates it.Supporters argue that this independence makes Bitcoin a more efficient alternative to conventional money, free from government interventions like currency devaluation to boost trade. Like other currencies, people can use BTC to pay for goods and services or exchange it for other currencies, provided the other party accepts it.
Where does it come from?
An individual or group using the pseudonym Satoshi Nakamoto introduced Bitcoin in 2009 through encrypted software.Last year, Australian businessman Craig Wright claimed he created Bitcoin, though many continue to view his claim with skepticism.
Since its launch, developers have introduced many other cryptocurrencies, but Bitcoin continues to hold its place as the most widely recognized, with increasing acceptance among merchants for payments.
Users initiate transactions by sharing encrypted codes across a computer network, which tracks and validates each transaction to ensure no Bitcoin is spent more than once.
They can also “mine” new Bitcoins by running their computers through complex and increasingly difficult processes. However, the system limits the total supply to 21 million Bitcoins, capping how many can ever exist.
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