Pakistan, which has been making bold moves regarding Bitcoin (BTC) and cryptocurrencies, has made a new move. Having announced that they will establish a Bitcoin reserve, Pakistan has now signed an agreement with El Salvador, the first country in the world to accept Bitcoin as legal tender.
Bilal bin Saqib, Chairman of the Pakistan Cryptocurrency Council and advisor to the Prime Minister of Pakistan, recently met with El Salvador President Nayib Bukele to discuss the country's Bitcoin strategy.
The two sides signed a Memorandum of Understanding (MoU) to collaborate on Bitcoin adoption, inclusive finance, and policy development by the Pakistani government.
Saqib, from his X account, described Bukele as one of the most extraordinary visionary leaders of the time and said:
“President Bukele was a visionary who foresaw the future with unwavering faith, even when no one else supported Bitcoin.
“El Salvador is not only embracing innovation, it's charting the course for the world.”
Saqib also stated that Bukele was a futuristic leader who was the first to see the future of Bitcoin and stood with faith even when it was not cool to support BTC.
“…A head of state who doesn't just talk about technology, but challenges technology in every field, from artificial intelligence to robotics to Bitcoin.
A great example of how you don't need abundant resources to put your country on the map, you just need vision and unwavering belief!”
While this meeting is expected to see El Salvador and Pakistan further collaborate on Bitcoin, the Pakistan Cryptocurrency Council stated, “This strategic collaboration reflects Pakistan's desire to become a leader in the global digital asset economy.”
The meeting with El Salvador President Nayib Bukele came a day after Pakistani Finance Minister Mohammed Aurangzeb and Saqib held a virtual meeting with Bitcoin bull Michael Saylor, founder of Strategy, which holds more than $62 billion in Bitcoin reserves.
El Salvador, the first country in the world to adopt Bitcoin as legal tender in 2021, is currently known to have $745 million worth of Bitcoin.
*This is not investment advice.
