Pakistan and El Salvador Establish Strategic Cooperation in the Field of Bitcoin, What is the Strategy?
Jakarta, Pintu News – In a surprising move, Pakistan and El Salvador have announced a bilateral cooperation focused on the use of Bitcoin .
Both countries plan to strengthen their position on the cryptocurrency, with El Salvador having made Bitcoin (BTC) legal tender almost five years ago.
The partnership aims to share knowledge and strategies in accumulating Bitcoin (BTC) and overcoming challenges. Check out the full information below!
Key Meetings in San Salvador
The meeting between Bilal Bin Saqib, Chief Executive Officer of the Pakistan Crypto Council, and the President of El Salvador, Nayib Bukele, in San Salvador, has opened a new chapter in the economic relations between the two countries. Saqib, who also serves as the Minister of State for Crypto and Blockchain, stated that Pakistan is very interested in learning about El Salvador’s experience in integrating Bitcoin (BTC) into their economic system.
Pakistan Starts Adapting to Bitcoin (BTC) After years of skeptical observation, Pakistan is now starting to seriously dive into the world of Bitcoin (BTC). In May, the country announced plans to establish a Strategic Bitcoin Reserve to collect the leading cryptocurrency.
Although initial plans to subsidize electricity for Bitcoin (BTC) mining were rejected by the International Monetary Fund (IMF), Pakistan is still trying to adopt El Salvador’s Bitcoin (BTC) accumulation strategy.
Also read: Sonnet BioTherapeutics’ New Strategy with $888 Million Worth of Crypto Reserves!
Challenge from the IMF
The International Monetary Fund (IMF) has expressed concern over countries allocating a portion of their reserves into Bitcoin (BTC). Despite warnings from the IMF, El Salvador is forging ahead with their strategy.
In order to fulfill loan requirements from the IMF, El Salvador had stopped purchasing Bitcoin (BTC) with public sector funds, but they are looking for new, undisclosed ways to resume the purchases.
El Salvador Continues to Innovate with Bitcoin (BTC) To date, El Salvador has 6,239 Bitcoin (BTC) worth nearly $800 million, with nominal gains of over $350 million.
In addition to steady purchases, the country has managed to mine more than 400 Bitcoins (BTC) in the past three years using geothermal energy from volcanoes, which adds to the amount of Bitcoins (BTC) they own.
Regulation of Crypto Market in Pakistan
Beyond the focus on Bitcoin (BTC), Pakistan is also striving to establish strict regulations for the crypto market more broadly.
The country has established the Pakistan Digital Asset Authority (PDAA) as the lead regulatory agency for their $25 billion crypto market. The PDAA aims to ensure that all crypto-related activities in Pakistan run according to high standards of security and transparency.
Conclusion
This cooperation between Pakistan and El Salvador marks a new era in the utilization of cryptocurrencies at the government level. By sharing knowledge and strategies, both countries hope to strengthen their position in the global market and overcome emerging challenges with innovation and collaboration.
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Reference
- Coingape. Pakistan, El Salvador Strike Landmark Bitcoin-Focused Bilateral Agreement. Accessed on July 17, 2025
- Featured Image: Bloomberg
