๐ฅ Blockchain Friendship Officialized
As the role of digital assets in financial systems rapidly grows globally, a historic step has been taken in this area. #ElSalvador , the first country to accept Bitcoin as its official currency, is now launching a crypto-centric foreign policy initiative alongside #Pakistan
The two countries have taken a groundbreaking step in the global financial scene by establishing their first official bilateral relations with a cryptocurrency-focused partnership, effective 2025.
๐ค Summit Held in San Salvador
Bilal bin Saqib, the crypto and blockchain advisor to the Prime Minister of Pakistan, met with El Salvador President Nayib Bukele in San Salvador. Following the meeting, the two countries reportedly initiated information sharing and technical cooperation on crypto and blockchain.
This contact was interpreted as a strong indication that Pakistan is abandoning its previously reserved approach towards cryptocurrencies.
๐ต๐ฐ Pakistan: Energy-Fueled Crypto Breakthrough
In the past few months, Pakistan has begun taking unexpected steps in the crypto space:
In May 2025, it officially began mining Bitcoin using surplus energy from coal-fired power plants.
In meetings with renowned investor Michael Saylor, the scenario of holding Bitcoin in the country's reserves was discussed.
That same month, the Digital Assets Authority of Pakistan was established, establishing a regulatory framework.
2,000 megawatts of energy capacity was allocated to crypto mining.
Despite pressure from the IMF, the commitment to making crypto a part of financial reform remains.
๐ Estimates suggest that 15 to 20 million people in Pakistan have invested in cryptocurrencies. This suggests that the country's crypto adoption rate is well above the global average.
๐ธ๐ป El Salvador: The Nationalized Version of Bitcoin
El Salvador, the first and only country to declare Bitcoin its official currency in 2021, has so far:
Accumulated more than 6,200 BTC (worth approximately $745 million).
Continued Bitcoin purchases despite global pressure and criticism from the IMF.
Implemented innovative financial instruments such as Bitcoin bonds and "Volcano Bonds."
President Bukele of El Salvador is particularly notable for his visionary approach to Bitcoin. Bilal bin Saqib also highlighted this, saying:
"He stood by Bitcoin even when it was unpopular to support it. He was one of the first leaders to see the future."
๐ Conflict with the IMF: Reforming With Crypto, Not Despite It
Both countries have active credit relationships with the IMF. Pakistan received a $7 billion IMF loan in 2023 and agreed to comprehensive reforms in return. However, integration with crypto technologies plays a crucial role in the financial transformation pillar of these reforms.
The IMF, in particular, has been wary of energy incentives for Bitcoin mining. However, the Pakistani government has chosen to capitalize on the economic opportunities afforded by crypto despite these pressures.
๐ Is a New Crypto Block Emerging?
The El Salvador-Pakistan cooperation is a reflection of not only the two countries but also many developing economies seeking alternatives to Western-centric financial systems. If this model proves successful, a new "crypto block" could emerge from Latin America to South Asia.
๐ While this cooperation is currently limited to sharing technical knowledge and regulatory infrastructure, it would not be surprising to see further advancements such as joint mining projects, Bitcoin reserve funds, and even CBDC alternatives in the future.
โ๏ธ Conclusion
This historic crypto-based cooperation between Pakistan and El Salvador clearly demonstrates how the paradigm is shifting in the global financial scene.
On one side, traditional structures under the shadow of the IMF, and on the other, countries gaining new power with the digital revolutionโฆ
The Bitcoin revolution, initiated by El Salvador, is now moving to a more global level with the participation of Pakistan.
๐ข Steps are being taken towards a new financial world orderโฆ Will Bitcoin be at the center of this order? Time will tell. But the cards are already being reshuffled.
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