PM's crypto aide meets Elon Musk's father, not the billionaire Musk, to discuss digital asset agenda

Special Assistant to the Prime Minister on Crypto and Blockchain Bilal Bin Saqib met Errol Musk, father of Elon Musk, in New York this week during his US visit to promote Pakistan’s digital asset agenda.

Saqib shared a photo of the meeting on platform X, quoting Musk as saying, “The market has finally picked up. Let’s not ruin it.”

As part of Pakistan’s broader push to position itself as a player in blockchain and financial innovation, Saqib earlier met over a dozen US lawmakers and officials in Washington.

He presented Pakistan’s evolving crypto roadmap, which includes the proposed launch of a Strategic Bitcoin Reserve, use of stablecoins for remittance flows, and efforts to draft a virtual asset regulatory framework.

Last week, the Finance Ministry confirmed the allocation of 2,000 megawatts of electricity for Bitcoin mining and AI data centres. The initiative, led by the Pakistan Crypto Council, is aimed at utilizing surplus power, generating tech jobs, and attracting foreign investment.

Future phases of the national crypto strategy include partnerships with global firms, the establishment of fintech hubs, and the development of renewable energy-powered digital infrastructure.

It’s worth noting that Pakistan’s crypto policy remains in its formative stage, with further progress dependent on the establishment of a clear legal and regulatory framework.