Pakistan’s Crypto Minister: Demographics will drive Bitcoin adoption in Pakistan by a “leapfrog”
PANews July 27 news, according to Cointelegraph, Pakistan's Minister of State for Cryptocurrency and Blockchain Bilal Bin Saqib said in an interview that Pakistan's demographic structure is the main catalyst for the popularity of Bitcoin, enabling it to "leapfrog" beyond developed countries.
The Pakistani government has begun regulating cryptocurrencies in November 2024. Pakistan has 40 million cryptocurrency wallets and is one of the "top five" countries in terms of cryptocurrency penetration. Bilal Bin Saqib attributed this to Pakistan's young population structure. "The median age of Pakistan is 20 years old. There are 250 million people, 70% of whom are under 30 years old. If Pakistan's young people were counted as a country, it would be the ninth or tenth most populous country in the world." He added: "Emerging markets will make breakthroughs in the adoption of these new technologies. Smaller countries are more likely to adopt Bitcoin because they are flexible in scale and can stay ahead of developed countries."
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