Bilal Bin Saqib, Pakistan Crypto Council CEO and special assistant to Pakistans prime minister on crypto and blockchain, met with El Salvadors President Nayib Bukele in San Salvador to explore knowledge-sharing opportunities.In a Thursday post on X, Saqib described Bukele as one of the most extraordinary visionary leaders of our time.
He touted Bukeles conviction in backing Bitcoin (BTC) and the countrys crypto plans amid widespread skepticism.Despite concerns raised by the International Monetary Fund (IMF) over its crypto policies, El Salvador continues to accumulate Bitcoin, currently holding more than 6,240 BTC valued at about $740 million, according to BitcoinTreasuries.NET.Hes a leader from the future, who saw the future first because when it wasnt cool to back Bitcoin, he stood with conviction, Saqib said of Bukele.
A great example that you dont need abundant resources to put your country on the map just vision and unwavering belief!Bilal Bin Saqib, left, and President Nayib Bukele.
Source: Bilal Bin SaqibRelated:Strategys Michael Saylor to help Pakistan with crypto pivotPakistan eyes El Salvadors Bitcoin strategyPakistan, which has recently embraced digital assets amid an ongoing $7 billion IMF loan program lasting until 2027, is looking to El Salvadors experience with Bitcoin adoption as a blueprint.According to a report from local media outlet Business Recorder, a key result of the meeting was signing a Letter of Intent between El Salvadors Bitcoin Office and the Pakistan Crypto Council.The agreement reportedly 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 came a day after Pakistans Finance Minister Muhammad Aurangzeb and Saqib held a virtual discussion with Bitcoin pioneer Michael Saylor, whose firm Strategy holds Bitcoin reserves worth more than $62 billion.This strategic engagement reflects Pakistans growing commitment to establishing itself as a leading force in the global digital asset economy, the Pakistan Crypto Council wrote on X.Meeting between Saqib, Michael Saylor, and Pakistans Finance Minister Muhammad Aurangzeb.
Source: Pakistan Crypto CouncilRelated:Can Bitcoin fix Pakistans energy problem? The 2,000 megawatt mining strategy explainedIMF blocks Pakistans Bitcoin mining plansEarlier this month, the IMF expressed concerns regarding Pakistans plan to use surplus electricity for crypto mining, rejecting a proposal to offer subsidized power to energy-intensive industries, including Bitcoin miners.Despite Pakistan having excess electricity during certain seasons, particularly winter, the IMF fears pricing schemes favoring specific industries could upset market balance.In May, Pakistanearmarked 2,000 megawatts of surplus electricity for Bitcoinmining and AI centers as part of a digital transformation initiative led by the Pakistan Crypto Council and supported by the Ministry of Finance.Magazine: Will Robinhoods tokenized stocks REALLY take over the world? Pros and cons