Bilal Bin Saqib, Pakistan CEO of the Crypto Council and Special Assistant of the Pakistani Prime Minister on Crypto and Blockchain, met the president of El Salvador, Nayib Bukele, in San Salvador to explore knowledge sharing opportunities.
In a Thursday article on X, SAQIB described Bukele as “one of the most extraordinary visionary leaders of our time”. He praised Bukele’s conviction by supporting Bitcoin (BTC) and the country’s crypto plans in the middle of generalized skepticism.
Despite the concerns raised by the International Monetary Fund (IMF) on its crypto policies, El Salvador continues to accumulate Bitcoin, currently holding more than 6,240 BTC worth around $ 740 million, according to BitcoinTareries.net.
“It is a leader of the future, who saw the future first because when it was not cool to support Bitcoin, he was held with conviction,” said Saqib about Bukele. “An excellent example that you do not need abundant resources to put your country on the map – just an unshakable vision and belief!”
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The Bitcoin strategy of the eyes of Pakistan El Salvador
Pakistan, which recently adopted digital assets in the midst of an on -the -market IMF loan program of $ 7 billion until 2027, turns to El Salvador’s experience with the adoption of Bitcoin as a plan.
According to a Business Business Record Recording Recordance report, a key result of the meeting was to report a letter of intent between the Bitcoin office of El Salvador and Pakistan Crypto Council.
The agreement would have established an official framework for collaboration on initiatives related to Bitcoin, by focusing on the adoption of the public sector, financial inclusion and the development of blockchain policies adapted to emerging economies.
The meeting with Bukele occurred one day after the Minister of Finance of Pakistan, Muhammad Aurangzeb and Saqib, had a virtual discussion with the pioneer of Bitcoin Michael Saylor, whose firm strategy holds Bitcoin reserves worth more than $ 62 billion.
“This strategic commitment reflects the growing commitment of Pakistan to establish itself as a cutting -edge force in the global economy of digital assets,” wrote Pakistan Crypto Council on X.
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The IMF blocks Pakistan Bitcoin extraction plans
Earlier this month, the IMF expressed its concerns concerning the Pakistan plan to use the excess electricity for the exploitation of cryptography, rejecting a proposal to offer a subsidized power to industries with high energy intensity, including bitcoin miners.
Although Pakistan has an excess of electricity during certain seasons, especially in winter, the IMF fear that pricing programs promoting specific industries can upset market balance.
In May, Pakistan assigned 2,000 megawatts of excess electricity for Bitcoin extraction and AI centers as part of a digital transformation initiative led by Pakistan Crypto Council and supported by the Ministry of Finance.
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