The post Pakistan Turns to El Salvador to Level Up Its Bitcoin Game appeared first on Coinpedia Fintech News
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.
