Michael Saylor open to advising Pakistan on Bitcoin strategy

Source Cryptopolitan

Strategy executive chairman Micheal Saylor said on Sunday that he is open to serving as an advisor for Pakistan’s crypto strategy. The parties discussed the potential use of Bitcoin as part of the national reserve and the development of crypto policy frameworks.

Saqib urged Pakistan to consider Saylor’s example of turning Strategy into a Bitcoin-buying vehicle. He believes that if private individuals can build that in the U.S., Pakistan, with the talent, story, and energy, can do the same.

Pakistan advances its crypto pivot strategy

Pakistan has greatly advanced in supporting its crypto pivot after Strategy’s executive chair, Michael Saylor, met with the country’s officials to laud its crypto efforts.  During a meeting on Sunday with Pakistan’s Finance Minister Muhammad Aurangzeb and Minister of Blockchain and Crypto Affairs Bilal Bin Saqib, Saylor discussed how Bitcoin can function in a state reserve and the country’s planned crypto policies.

In a video posted on June 15 by a Finance Ministry official, Saylor told the duo that Pakistan has many brilliant people and many individuals who do business with the country. He also used his Bitcoin-buying company as an example of how the country can show intellectual leadership.

According to Bitbo, Strategy, formerly MicroStrategy, has the largest Bitcoin holdings among public companies, with 582,000 BTC worth over $61 billion. The crypto company has sold billions of dollars worth of debt and shares to fund its BTC purchases, and its share price has soared over 3,000% since its first buy in mid-2020.

“Bitcoin is the strongest asset for long-term national resilience. Emerging markets like Pakistan have a once-in-a-generation opportunity to leapfrog into the future of finance.”

-Michael Saylor,  Former CEO and Co-founder of Strategy.

Saqib noted that the country has shifted to become more crypto-friendly, with the government setting up a crypto authority last month to regulate the sector. Pakistan’s Minister of Blockchain and Crypto Affairs also acknowledged that the country will create a Bitcoin reserve.

Saylor told Saqib and Aurangzeb that the markets gave him billions of dollars because they trusted his company. He also argued that intellectual leadership was the most important thing that bolsters trust in people.

The American billionaire added that when the market decides who is leading in a particular area, they stand behind the leader and invest with them, which he believes they’ll do for Pakistan. Saylor argued that Pakistan had the most important things, which are commitment and clarity, and he said that he is looking forward to working with the country.

Pakistan seeks to build a robust crypto policy framework

Saqib’s office said in a statement that its talk with Saylor was a milestone in Pakistan’s effort to build a robust digital assets policy framework for the country. Aurangzeb also maintained that Pakistan aspires to lead the Global South in developing and adopting digital assets. He referred to the group of nations typically regarded as having a lower level of economic development.

On June 6, Pakistan’s government-backed Crypto Council presented a draft legal framework, for which the Finance Ministry agreed to fast-track the approval process. The council was established in March to regulate and integrate blockchain technology and digital assets into the country’s financial landscape.

The Finance Division said the council is set to play a pivotal role in formulating policies, fostering innovation, and ensuring a secure and forward-thinking approach to crypto adoption in Pakistan. Saqib was installed as CEO, and he also acts as an adviser to World Liberty Financial, the crypto project linked to U.S. President Donald Trump and his family.

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