From Future to Future: Pakistan and El Salvador’s Bitcoin Tango 🕺💰

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Amid the swirling mists of global skepticism, Bilal Bin Saqib, the indomitable CEO of the Pakistan Crypto Council and special assistant to Pakistan’s prime minister on crypto and blockchain, ventured into the heart of San Salvador. There, he met with the enigmatic and daring President Nayib Bukele, a man who, as Saqib would later proclaim on X, is “one of the most extraordinary visionary leaders of our time.” 🌟

Bukele, a leader who has defied the naysayers and critics with his unwavering belief in Bitcoin (BTC), has not only backed the digital currency but has also turned El Salvador into a beacon of crypto innovation. “He’s a leader from the future, who saw the future first because when it wasn’t cool to back Bitcoin, he stood with conviction,” Saqib marveled. “A great example that you don’t need abundant resources to put your country on the map — just vision and unwavering belief!” 🚀

Despite the International Monetary Fund (IMF) raising eyebrows and cautioning against El Salvador’s crypto policies, the country has continued to accumulate Bitcoin, now boasting a treasury of over 6,240 BTC, valued at a staggering $740 million, according to BitcoinTreasuries.NET. 📈

Pakistan Eyes El Salvador’s Bitcoin Strategy

Pakistan, a nation that has recently embraced digital assets amid an ongoing $7 billion IMF loan program set to last until 2027, is now looking to El Salvador’s Bitcoin adoption as a guiding light. 🌞

According to a report from the local media outlet Business Recorder, the meeting between Saqib and Bukele culminated in the signing of a Letter of Intent between El Salvador’s Bitcoin Office and the Pakistan Crypto Council. This agreement establishes a formal framework for collaboration on Bitcoin-related initiatives, focusing on public sector adoption, blockchain-driven financial inclusion, and policy development tailored to emerging economies. 🤝

The meeting with Bukele followed a virtual discussion between Pakistan’s Finance Minister Muhammad Aurangzeb and Saqib with Bitcoin pioneer Michael Saylor, whose firm Strategy holds Bitcoin reserves worth more than $62 billion. “This strategic engagement reflects Pakistan’s growing commitment to establishing itself as a leading force in the global digital asset economy,” the Pakistan Crypto Council declared on X. 🌍

IMF Blocks Pakistan’s Bitcoin Mining Plans

However, not all is smooth sailing in the world of crypto. Earlier this month, the IMF cast a shadow over Pakistan’s ambitious plans to use surplus electricity for crypto mining, rejecting a proposal to offer subsidized power to energy-intensive industries, including Bitcoin miners. 🚫

Despite Pakistan’s surplus electricity during certain seasons, particularly winter, the IMF fears that pricing schemes favoring specific industries could upset the delicate balance of the market. In May, Pakistan had earmarked 2,000 megawatts of surplus electricity for Bitcoin mining and AI centers, a digital transformation initiative led by the Pakistan Crypto Council and supported by the Ministry of Finance. 🌡️

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2025-07-17 11:23