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Pakistan Turns to El Salvador to Level Up Its Bitcoin Game

Published by
Rizwan Ansari and Sohrab Khawas

Pakistan is getting serious about crypto and wants to follow in El Salvador’s footsteps. This week, Bilal Bin Saqib, head of Pakistan’s Crypto Council and special advisor to the prime minister, visited El Salvador’s President Nayib Bukele to talk about Bitcoin adoption and building stronger crypto ties.

Pakistan Following El Salvador Footsteps

Bilal Bin Saqib, CEO of the Pakistan Crypto Council and State Minister for Crypto and Blockchain, recently met El Salvador’s President Nayib Bukele. After their meeting, Saqib praised Bukele as a “visionary” who backed Bitcoin when most world leaders were afraid to. 

Bukele was the first head of state to make Bitcoin legal tender, turning a small country into a symbol of innovation. Despite warnings from big global groups like the IMF, Bukele kept buying Bitcoin for his country.

Meanwhile, today, El Salvador holds over 6,089 BTC, worth about $722 million.

New Deal for Crypto Collaboration

During the visit, Saqib and Bukele signed a Letter of Intent to work together. This agreement sets a plan for both countries to share ideas and work on Bitcoin projects. 

For Pakistan, the focus is on using crypto and blockchain to help more people access financial services and grow the digital economy

But Bukele’s vision goes beyond Bitcoin. He is exploring AI, robotics, and emerging tech, proving you don’t need big resources to make a global impact, you need strong belief and bold decision

Pakistan’s Plans Hit IMF Roadblock

Pakistan has already tried to push ahead by using extra power to mine Bitcoin. Earlier this year, the government set aside 2,000 megawatts of spare electricity for crypto mining and AI centers. But the IMF did not support the plan, worried that cheap power for crypto could hurt the wider market.

Recently, during the Bitcoin Conference in Las Vegas, Michael Saylor, founder of Strategy, praised Pakistan’s plan to build a national BTC reserve and stepped in to help build it. 

FAQs

Why did Pakistan’s Crypto Council head visit El Salvador?

Bilal Bin Saqib, head of Pakistan’s Crypto Council, visited El Salvador to discuss Bitcoin adoption and build stronger crypto ties, aiming to follow El Salvador’s innovative lead.

Why did the IMF object to Pakistan’s Bitcoin mining plans?

The IMF expressed concerns that Pakistan’s plan to allocate 2,000 megawatts of spare electricity for crypto mining could destabilize the power market and harm the wider economy.

How has Michael Saylor supported Pakistan’s crypto efforts?

Michael Saylor, founder of Strategy, praised Pakistan’s plan to build a national Bitcoin reserve and offered to help in its development, seeing it as a key step for national resilience.

Rizwan Ansari and Sohrab Khawas

Rizwan is an experienced Crypto journalist with almost half a decade of experience covering everything related to the growing crypto industry — from price analysis to blockchain disruption. During this period, he’s authored more than 3,000 news articles for Coinpedia News.

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