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Pakistan and El Salvador: Bitcoin Alliance for the Digital Future!
Pakistan signed a memorandum of understanding with El Salvador on Bitcoin cooperation to further develop digital strategies.
Pakistan and El Salvador: Bitcoin Alliance for the Digital Future!
In a landmark development, Pakistan signed a memorandum of understanding on Bitcoin (BTC) cooperation in San Salvador on July 18, 2025. This initiative highlights the country's growing interest in digital assets and aims to promote knowledge sharing and policy development regarding Bitcoin adoption. Bilal Bin Saqib, CEO of the Pakistan Crypto Council and Special Assistant to the Prime Minister, met with President Nayib Bukele of El Salvador to explore opportunities for cooperation in the field of cryptocurrencies and blockchain. The signing took place between the Bitcoin Office of El Salvador and the Pakistan Crypto Council, as Newsbit reported.
These discussions reflect Pakistan's ambitions to advance the digital economy, particularly in a context marked by challenges such as a $7 billion International Monetary Fund (IMF) lending program. Saqib expressed his admiration for Bukele as a visionary leader who is supporting El Salvador with its BTC strategy despite widespread skepticism. El Salvador currently holds over 6,240 BTC worth around $740 million, despite the IMF's critical stance on its crypto policies.
Focus on knowledge sharing and blockchain technology
The MOU focuses on knowledge sharing on BTC adoption, policy development, and technological applications aimed at financial inclusion in emerging economies. Pakistan sees El Salvador as an inspiring example of its own digital strategy. This was also made clear in a virtual consultation between Saqib, Finance Minister Muhammad Aurangzeb and Bitcoin thought leader Michael Saylor, whose company MicroStrategy owns over $62 billion in BTC.
However, despite the positive tensions surrounding the collaboration, Pakistan also faces concerns, particularly regarding its crypto plans. The IMF has repeatedly criticized the idea of using excess electricity for crypto mining. A proposal to subsidize such energy-intensive sectors was rejected, while Pakistan reserved 2,000 megawatts of power capacity for Bitcoin mining and AI development in May. These measures are part of a broader plan by the Pakistan Crypto Council and the Ministry of Finance to digitally transform the country.
The developments between Pakistan and El Salvador could provide far-reaching impetus for cryptocurrency acceptance in emerging markets and show how countries in different economic situations can learn from each other. Amid the current economic uncertainty, Pakistan's involvement in the crypto space remains a delicate undertaking, bringing with it both opportunities and challenges Cointelegraph reported.