Michael Saylor will help Pakistan in developing the crypto sector

What’s new? Michael Saylor, the founder and chairman of analytics software company Strategy (formerly MicroStrategy), will advise the Pakistani authorities on the development of the crypto sector and the creation of a bitcoin reserve. Strategy is the largest holder of BTC among publicly traded companies, with 582 000 coins worth over $62 billion in its account.

Source: X.com

What else is known? Saylor met with Finance Minister Muhammad Aurangzeb and Digital Assets Authority (PDAA) head Bilal Bin Saqib late last week.

They discussed the establishment of crypto regulation and the possibility of including bitcoin in the government reserve. Saylor said he welcomed the opportunity to advise the country on digital transformation.

Saylor noted during the meeting that “Pakistan has many brilliant people and a lot of people do business with you” and cited his company as an example of how the country can demonstrate “intellectual leadership.”

“You have the most important thing, which is you have a commitment and a will and clarity. I look forward to working with you,” Saylor said.

Strategy began investing in bitcoin in 2020, and since then, its share price MSTR has grown by more than 3000%. It has been issuing additional shares and debt securities to fund its purchases. This month, it introduced Stride preferred stock (STRD) along with Strike (STRK) and Strife (STRF) issued earlier.

Following the meeting, the PDAA released a statement noting that Chief Minister Saqib’s meeting with Saylor was a “milestone in Pakistan’s effort to build a robust digital assets policy framework” and present the country as a “Web3 and Bitcoin-ready emerging market”.

For his part, Aurangzeb said Pakistan “aspires to lead the Global South in the development and adoption of digital assets.”

Earlier this month, the PDAA submitted a draft legal framework for which the Finance Ministry agreed to expedite the approval process.

The PDAA’s crypto council was established in March. Its head Saqib is also an advisor to the DeFi platform World Liberty Financial, which is linked to US President Donald Trump and his family.