The authorities of Paraguay plan to meet with the leaders of the country's crypto industry to discuss the prospects of creating a strategic Bitcoin fund, stated the National Agency for Digital Assets (ANAD).
The meeting with representatives of the crypto industry under the auspices of ANAD will take place in Asunción at two events: Paraguay Blockchain Summit 2025 and Accelerating Bitcoin from September 10 to 16. The discussion will focus on the issues of exploring the possibilities of forming a strategic reserve of Bitcoins similar to the USA, as well as the regulation of digital assets and their integration into the economy of Paraguay.
The country is already one of the centers for bitcoin mining, thanks to its abundant hydroelectric power capabilities. We are currently studying the experiences of countries implementing bitcoin in order to minimize risks and unlock the potential of digital assets,” said Paraguay's Finance Minister Juan Moreira.
He added that the Central Bank of Paraguay is forced to maintain reasonable caution and balance between steps to create a state reserve of bitcoin and compliance with the IMF loan program of $285 million, which requires the country's authorities to exercise increased financial responsibility.
Earlier, Senator Salyn Buzarquis stated at hearings in the Senate of Paraguay that instead of selling surplus electricity at low prices to neighboring states, the government should consider supporting mining companies that could provide greater profits and bring about $125 million to the country's budget by 2025. The senator's opinion is shared by industry representatives, such as Hive Digital CEO Aydin Kilic, who sees this as one of the main strategic opportunities for mining in Paraguay.
Their opponents express concern about the negative economic impact of the mining industry on overall employment. Unlike sectors such as agriculture or manufacturing, large-scale bitcoin mining does not create a significant number of direct jobs. For example, according to a report from the Institute of Social Security (IPS) presented to the Congress of Paraguay, local companies engaged in bitcoin mining demonstrated a low level of employment, creating only 383 jobs in 2024.
