Bitcoin Goes Global: Pakistan & El Salvador Forge Unlikely Crypto Alliance

Two nations separated by geography—united by blockchain. While Wall Street hedgies still debate Bitcoin's merit, Pakistan and El Salvador just held a closed-door crypto summit that'd make Jamie Dimon's head explode.

The Developing World's Digital Gold Rush

El Salvador—the first country to adopt Bitcoin as legal tender—reportedly shared hard-earned operational playbooks with Pakistan's fintech task force. No regulatory hand-holding, just peer-to-peer sovereign knowledge transfer.

Remittance Revolution or Hail Mary?

Both economies rely heavily on overseas workers sending money home. Bitcoin's borderless rails could slash transfer fees by 80% compared to Western Union—if they can survive the volatility. Spoiler: traditional banks aren't sending congratulatory fruit baskets.

As IMF austerity measures squeeze developing nations, this crypto detente proves desperation breeds innovation faster than any VC check. The real question? Which debt-ridden nation adopts lightning next—and how many bankers will need smelling salts.

Pakistan Signs Framework With El Salvador

According to reports, the agreement establishes a formal connection between El Salvador’s Bitcoin Office and the Pakistan crypto Council. Its objective is to advise Islamabad while it formalizes regulations regarding the adoption of cryptocurrency.

Pakistan is already subject to a $7 billion IMF loan program to 2027. Now it wishes to learn from the mistakes Bukele made when he legalized crypto as legal tender in September 2021, while facing opposition from the International Monetary Fund regarding fiscal risks.

Just met one of the most extraordinary visionary leaders of our time, President of El Salvador, @nayibbukele

A head of state who doesn’t just talk tech, but challenges it, from AI and robotics to Bitcoin.

He’s a leader from the future, who saw the future first because when it… pic.twitter.com/QpS6vVnTxv

— Bilal bin Saqib MBE (@Bilalbinsaqib) July 16, 2025

IMF Concerns Stall Mining Plans

According to IMF statements, the fund rejected Pakistan’s bid to offer subsidized power to energy‑intensive industries, including Bitcoin miners.

That plan WOULD have tapped up to 2,000 megawatts of seasonal electricity surplus—mainly in winter months—to run mining rigs and AI data centers.

The IMF warned that special pricing schemes risked skewing Pakistan’s energy market and undermining fiscal balance. If Islamabad presses ahead without IMF buy‑in, it could trigger fresh delays in loan disbursements.

Pakistan’s delegation also held a VIRTUAL meeting with Michael Saylor, whose firm Strategy holds more than $62 billion in crypto reserves. Saylor shared insights on managing a large‑scale BTC portfolio and using digital assets as an institutional treasury tool.

Pakistan hopes to learn how to build its own “Strategic Bitcoin Reserve” without exposing public finances to wild price swings.

El Salvador now holds over 6,240 BTC, valued at about $740 million, according to BitcoinTreasuries.NET. Bukele’s team has bought more than 3,000 BTC since rolling out its Bitcoin Law, even as critics pointed to market volatility and operational hurdles.

Saqib hailed Bukele as “one of the most extraordinary visionary leaders of our time,” noting that conviction mattered more than DEEP pockets when staking a country’s reputation on digital currency.

Based on reports, Pakistan plans to dispatch technical teams to El Salvador later this year. They will study Bukele’s tax framework for Bitcoin gains, the setup of the country’s Bitcoin trust and pilot projects that tap blockchain for government payments.

Featured image from Shutterstock, chart from TradingView