Pakistan and El Salvador Discuss 'Bitcoin Strategy' and Strengthen Cooperation

JOON HYOUNG LEE

Summary

El Salvador and Pakistan announced that they would strengthen cooperation between the two countries through discussions on Bitcoin strategy.
Both sides reported the signing of a Letter of Intent (LOI) for cooperation between the Bitcoin Office and the Pakistan Cryptocurrency Council.
Pakistan stated that through this collaboration, it is aiming for a leading position in the global digital asset economy.

On the 17th (local time), Nayib Bukele, President of El Salvador (right), and Bilal Bin Saqib, Chairman of the Pakistan Cryptocurrency Council and advisor to the Prime Minister of Pakistan, met in El Salvador. Photo = Screenshot from Bilal Bin Saqib, Chairman of the Pakistan Cryptocurrency Council and advisor to the Prime Minister of Pakistan's X (formerly Twitter)

El Salvador, the first country in the world to adopt Bitcoin (BTC) as legal tender, is strengthening its cooperation with Pakistan in the field of cryptocurrency.

On the 17th (local time), international news outlets including Cointelegraph reported that Nayib Bukele, President of El Salvador, held talks in El Salvador with Bilal Bin Saqib, Chairman of the Pakistan Cryptocurrency Council and advisor to the Prime Minister of Pakistan, during which they discussed Bitcoin strategy. On X, Saqib stated, "President Bukele was a visionary who foresaw the future with unwavering conviction when no one else supported Bitcoin," adding, "(El Salvador) sets a great example that a country can attain the world stage with vision and steadfast belief."

With this meeting, El Salvador and Pakistan are expected to boost collaboration related to Bitcoin. It is reported that the Bitcoin Office (ONBTC) directly under the President of El Salvador and the Pakistan Cryptocurrency Council signed a Letter of Intent (LOI) for cooperation. The Pakistan Cryptocurrency Council explained, "This strategic collaboration reflects Pakistan's willingness to assume a leading position in the global digital asset economy."

Meanwhile, El Salvador became the first country in the world to adopt Bitcoin as legal tender in 2021. It is currently reported that El Salvador holds Bitcoin worth $745 million.

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