PM's aide on crypto Bilal Bin Saqib meets Elon Musk's father
Minister of State for Crypto, Blockchain and CEO of the Pakistan Crypto Council Bilal Bin Saqib
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Special Assistant to Prime Minister (SAPM) on Crypto and Blockchain Bilal Bin Saqib, held a notable meeting in New York with Errol Musk, father of billionaire entrepreneur Elon Musk.
The minister shared a photograph of the meeting on social platform X, in which Errol Musk is seen greeting him warmly. The image quickly gained attention, particularly given the growing relevance of blockchain discussions in global finance.
Met Elon Musk's dad.
Requested that the markets finally have great momentum - let's not mess it up!
The world needs Tesla and Trump in the same group chat! 🙏
Peace and Build pic.twitter.com/eFZKKvCMXY — Bilal bin Saqib MBE (@Bilalbinsaqib) June 6, 2025
According to Saqib, Errol Musk remarked during the meeting, 'The market has finally picked up. Let's not ruin it.' The quote was seen by observers as a subtle reference to ongoing global economic volatility and the importance of responsible innovation in tech and finance.
Bilal Bin Saqib added in his post that the world desires greater alignment between powerful innovators and decision-makers. 'The world wants Tesla and Trump in the same group chat for peace and progress,' he wrote, suggesting that coordinated global dialogue is vital for technological and geopolitical stability.
The meeting is being viewed as a symbolic moment as Pakistan seeks to strengthen its positioning in emerging technologies, particularly in the areas of digital assets and blockchain.
Read More: Pakistan is establishing 'Strategic Bitcoin Reserve
A day earlier, SAPM on Crypto and Blockchain Bilal Bin Saqib met with over a dozen key US government officials and lawmakers this week in Washington to strengthen cooperation in the areas of digital assets, blockchain regulation and financial innovation.
The visit also served to share Pakistan's initiatives — including the recent announcement of its Strategic Bitcoin Reserve, efforts to build a virtual asset regulatory framework, and the use of stablecoins to improve remittances and expand financial access.
The exchanges highlighted the need for closer global coordination and the role emerging markets like Pakistan can play in shaping the next chapter of the digital economy.
Last week, the Ministry of Finance reported that Pakistan allocated 2,000 megawatts of electricity for Bitcoin mining and AI data centres as part of a national initiative to make Pakistan a leader in digital innovation.
Read more: IMF seeks explanation on Bitcoin, AI initiatives
This initiative, led by the Pakistan Crypto Council (PCC), aims to use excess electricity, create high-tech jobs, and attract foreign investment. The allocation marks the first phase of a broader digital infrastructure rollout.
Future developments are expected to include renewable energy-powered facilities, global partnerships with blockchain and AI firms, and the establishment of fintech and innovation hubs.
On the other hand, the federal government and the central bank reiterated on Thursday that the use of cryptocurrencies was illegal and anyone dealing in these currencies was liable to be investigated by the Financial Monitoring Unit (FMU) and the Federal Investigation Agency (FIA).
The statements were made by Federal Finance Secretary Imdad Ullah Bosal and State Bank of Pakistan (SBP) Executive Director Sohail Jawad during a meeting of the National Assembly Standing Committee on Finance.
Read more: Crypto currencies' use is illegal, National Assembly told
The development also came a day after the newly appointed Special Assistant to the Prime Minister on crypto and blockchain, Bilal Bin Saqib, made a pitch for the promotion of cryptocurrencies during his visit to the United States.
Crypto is not a legal currency in Pakistan, said Bosal. He recommended that the committee invite the Pakistan Crypto Council (PCC) for further briefing. SAPM Bilal Bin Saqib is also the chief executive officer of the PCC.
"The work on the crypto currencies is at a very, very preliminary stage and whenever the government decides to take it further, we would recommend to first have a comprehensive legal and regulatory framework for it," Bosal said, adding that so far, there was no such framework.
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PM's aide on crypto Bilal Bin Saqib meets Elon Musk's father
Minister of State for Crypto, Blockchain and CEO of the Pakistan Crypto Council Bilal Bin Saqib Listen to article Special Assistant to Prime Minister (SAPM) on Crypto and Blockchain Bilal Bin Saqib, held a notable meeting in New York with Errol Musk, father of billionaire entrepreneur Elon Musk. The minister shared a photograph of the meeting on social platform X, in which Errol Musk is seen greeting him warmly. The image quickly gained attention, particularly given the growing relevance of blockchain discussions in global finance. Met Elon Musk's dad. Requested that the markets finally have great momentum - let's not mess it up! The world needs Tesla and Trump in the same group chat! 🙏 Peace and Build — Bilal bin Saqib MBE (@Bilalbinsaqib) June 6, 2025 According to Saqib, Errol Musk remarked during the meeting, 'The market has finally picked up. Let's not ruin it.' The quote was seen by observers as a subtle reference to ongoing global economic volatility and the importance of responsible innovation in tech and finance. Bilal Bin Saqib added in his post that the world desires greater alignment between powerful innovators and decision-makers. 'The world wants Tesla and Trump in the same group chat for peace and progress,' he wrote, suggesting that coordinated global dialogue is vital for technological and geopolitical stability. The meeting is being viewed as a symbolic moment as Pakistan seeks to strengthen its positioning in emerging technologies, particularly in the areas of digital assets and blockchain. Read More: Pakistan is establishing 'Strategic Bitcoin Reserve A day earlier, SAPM on Crypto and Blockchain Bilal Bin Saqib met with over a dozen key US government officials and lawmakers this week in Washington to strengthen cooperation in the areas of digital assets, blockchain regulation and financial innovation. The visit also served to share Pakistan's initiatives — including the recent announcement of its Strategic Bitcoin Reserve, efforts to build a virtual asset regulatory framework, and the use of stablecoins to improve remittances and expand financial access. The exchanges highlighted the need for closer global coordination and the role emerging markets like Pakistan can play in shaping the next chapter of the digital economy. Last week, the Ministry of Finance reported that Pakistan allocated 2,000 megawatts of electricity for Bitcoin mining and AI data centres as part of a national initiative to make Pakistan a leader in digital innovation. Read more: IMF seeks explanation on Bitcoin, AI initiatives This initiative, led by the Pakistan Crypto Council (PCC), aims to use excess electricity, create high-tech jobs, and attract foreign investment. The allocation marks the first phase of a broader digital infrastructure rollout. Future developments are expected to include renewable energy-powered facilities, global partnerships with blockchain and AI firms, and the establishment of fintech and innovation hubs. On the other hand, the federal government and the central bank reiterated on Thursday that the use of cryptocurrencies was illegal and anyone dealing in these currencies was liable to be investigated by the Financial Monitoring Unit (FMU) and the Federal Investigation Agency (FIA). The statements were made by Federal Finance Secretary Imdad Ullah Bosal and State Bank of Pakistan (SBP) Executive Director Sohail Jawad during a meeting of the National Assembly Standing Committee on Finance. Read more: Crypto currencies' use is illegal, National Assembly told The development also came a day after the newly appointed Special Assistant to the Prime Minister on crypto and blockchain, Bilal Bin Saqib, made a pitch for the promotion of cryptocurrencies during his visit to the United States. Crypto is not a legal currency in Pakistan, said Bosal. He recommended that the committee invite the Pakistan Crypto Council (PCC) for further briefing. SAPM Bilal Bin Saqib is also the chief executive officer of the PCC. "The work on the crypto currencies is at a very, very preliminary stage and whenever the government decides to take it further, we would recommend to first have a comprehensive legal and regulatory framework for it," Bosal said, adding that so far, there was no such framework.
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