After the recent developments in the regard of cryptocurrencies, all major cryptocurrencies were witnessed trending on top on Pakistani Twitter today.
Bitcoin just jumped 5.6% to reach $49,337.72 on Sunday, an increase of 77.9 percent from the year’s low of $27,734 on January 4, which caused the commotion on Twitter. The demand for major digital coins including Bitcoin appears to have attained an all-time high, with the #Bitcoin trend reaching the top with 248,000 tweets followed by #dogecoin, a coin drove to fame by the famous billionaire, Elon Musk.
Furthermore, some major developments that could have caused the unexpected exponential rise of the popularity of digital currencies include Elon Musk’s announcement to stop Bitcoin payments for Tesla, Waqar Zaka’s appointment as a “Crypto expert” by the KPK government. Pakistanis could be flocking to Binance, their most preferred Crypto trading platform, and managing transactions worth millions of dollars.
Read more: The government of KPK appoints Waqar Zaka as Crypto Expert
Due to the increased global adoption of cryptocurrencies, Pakistan has also decided to launch its own digital currency. The KPK government leads the process by becoming the first province to authorize crypto, install Bitcoin mining farms, and introduce Pakistan’s first-ever crypto advisory committee.
However, the acknowledgment for popularizing Cryptocurrencies in Pakistan and leading the authorities’ attention to it goes to Waqar Zaka, the former Living on the Edge show host who now runs a paid group to advise Pakistanis about crypto investments. In addition to it, Waqar, who is also the inaugurator of the Tehreek-e-Tech, a movement intended to legalize cryptocurrencies in Pakistan, has frequently claimed to pay off Pakistan’s debt.
Source: TechJuice
Image Source: Daily Times
