In a surprising diplomatic development, Pakistan and El Salvador have established a strategic partnership focused on Bitcoin, marking their first formal economic collaboration.
The alliance centers on public-sector use of crypto, with both nations seeking to expand their BTC reserves in the face of international pushback.
Pakistan’s Minister of State for Crypto and Blockchain, Bilal Bin Saqib, recently met with El Salvador’s President Nayib Bukele in San Salvador to launch a knowledge-sharing initiative. The South Asian country is looking to replicate El Salvador’s Bitcoin strategy, despite having faced IMF resistance to its plans, including efforts to subsidize power for mining.
Pakistan has already laid groundwork for deeper crypto adoption, launching a Strategic Bitcoin Reserve and creating the Pakistan Digital Asset Authority to oversee its growing $25 billion crypto market.
El Salvador, meanwhile, continues to build its Bitcoin holdings—now at 6,239 BTC worth nearly $800 million—despite pausing public-sector purchases to comply with IMF loan terms. The country has also mined hundreds of Bitcoin using geothermal energy and maintains a profit on its position of more than $350 million.
Both nations appear committed to navigating around global financial institutions in their shared crypto ambitions.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/el-salvador-finds-a-new-ally-in-pakistan-for-public-sector-bitcoin-use/