logo
Pakistan, El Salvador Establish Bilateral Ties Based on Crypto

Pakistan, El Salvador Establish Bilateral Ties Based on Crypto

Bloomberg16-07-2025
By and Sidhartha Shukla
Save
Pakistan and El Salvador have established bilateral ties for the first time, putting cryptocurrency cooperation at the center of the relationship.
Bilal Bin Saqib, chief executive of Pakistan Crypto Council and special assistant to Pakistan's prime minister on crypto and blockchain, met with El Salvador's President Nayib Bukele in the South American country to discuss a knowledge-sharing partnership, according to a statement by Pakistan minister's office.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Bitcoin and crypto are on an upswing. How long can it continue?
Bitcoin and crypto are on an upswing. How long can it continue?

Yahoo

time26 minutes ago

  • Yahoo

Bitcoin and crypto are on an upswing. How long can it continue?

July was good to Bitcoin, and some analysts think this may just be the warmup. Although Bitcoin was last down 0.35% at $115,396.40, below its record peak of around $123,000, some analysts aren't worried. Tom Lee, managing partner and head of research at Fundstrat Global Advisors who predicted Bitcoin's peak in 2024, has said he thinks Bitcoin willl reach $250,000 before the end of the year. Bitcoin climbed to a record high on July 14 as weekly cryptocurrency investment products saw record weekly inflows, pushing the total crypto market to top $4 trillion for the first time ever. With new legislation signed into law last month and skyrocketing institutional buying, there's little doubt digital assets are becoming more mainstream, they say. Earlier in the year, crypto exchange Coinbase also became the first crypto exchange to join the S&P 500, marking a major milestone for the digital asset industry. "Bitcoin pulling back after reaching a new all-time high is not unusual," said Samer Hasn, Senior Market Analyst at global broker Often, rallies are followed by dips, so people can take some profits around key technical levels. The drops also allow people who are sidelined and don't want to buy at the highs a lower entry point. Regulations give institutions green light The GENIUS Act, signed into law on July 18, creates a regulatory framework for stablecoins, a popular type of cryptocurrency tied to the value of stable assets like the U.S. dollar. The Act "marks a turning point in federal crypto oversight," said Frank Walbaum Market Analyst at socal investing platform Naga. "Regulatory clarity could support institutional adoption and long-term market maturation." Crypto has already seen a flood of new interest, with money flooding into crypto exchange traded funds, or ETFs that trade like stocks on an exchange but have holdings that track an index or other underlying asset. iShares Bitcoin Trust ETF, which seeks to reflect generally the performance of the price of bitcoin, became the fastest growing ETF ever in terms of assets. "The crypto ETF pie is growing fast because of broader adoptions after executive orders by President Donald Trump that are in the process of breaking down regulatory barriers that previously stood in the way of broader crypto adoption," said Bryan Armour, Morningstar's director of ETF and passive strategies. Who's buying crypto? Buyers are mostly young American males, according to a Deutsche Bank survey of U.S., UK and EU residents in June. In the United States, 23% of men versus 13% of women use cryptocurrency as a form of payment or personally invest in crypto, the survey showed. That's up from 20% and 12%, respectively, in January. Individual investors also tend to be young in the U.S. Among 18–34-year-olds, the share of investors increased to 29% in June from 24% in January, due to "excitement over Trump's pro-crypto administration," said Marion Laboure, senior economist at Deutsche Bank. Adoption rates have been on an upwards trend since Trump's election in November. U.S. investors also tend to have more money. U.S. crypto adopters tend to have income above $100,000 annually (34%). It was a 32% adoption rate for those earning between $50,000 and $100,000. More companies also are building Bitcoin treasuries. For example, MicroStrategy, which began buying Bitcoin in 2020, has since sold equity, issued various types of debt and layered stacks of preferred shares on top to raise money to buy more. In its latest earnings regulatory filing, it said it would do so again, selling $4.2 billion more in preferred stock to buy more of the digital coin. Its Bitcoin holdings helped the company's results top second-quarter estimates with a surprising profit. Metaplanet also said in a regulatory filing it plans to potentially issue up to $3.7 billion worth of perpetual preferred shares and use proceeds to buy more Bitcoin. It has said it wants to accumulate 210,000 Bitcoin by the end of 2027. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday morning. This article originally appeared on USA TODAY: Bitcoin had a record July. Can its winning streak continue? Sign in to access your portfolio

Michael Saylor's MicroStrategy could never buy all of Bitcoin
Michael Saylor's MicroStrategy could never buy all of Bitcoin

Yahoo

timean hour ago

  • Yahoo

Michael Saylor's MicroStrategy could never buy all of Bitcoin

Michael Saylor's MicroStrategy could never buy all of Bitcoin originally appeared on TheStreet. Fresh off a stunning earnings beat, MicroStrategy co-founder and executive chairman Michael Saylor on Thursday explained what's next for the world's largest Bitcoin treasury company, and whether there's such a thing as owning too much Bitcoin. MicroStrategy, now officially operating as Strategy (Nasdaq: MSTR), reported second-quarter earnings of $32.52 per share, shattering the Street's forecast of a $0.09 loss. Revenue also edged out expectations at $114.49 million, a 2.73% increase while the numbers were impressive, it was Saylor's remarks about Bitcoin ownership that really got people talking. Asked whether he would ever want to own all the Bitcoin in existence, Saylor told CNBC: 'I don't think we'll get all of it. I don't think in the range of three to five or three to seven percent is too much. BlackRock has got more [than] us.' He reflected on how far Strategy has come since its first foray into Bitcoin: 'We started and we had very little in Bitcoin. It was $10,000 and now Bitcoin's more than a hundred thousand and 97% of the Bitcoin is worth 10 times as much and somebody else, not us, has it.' Even if he could buy all of it, he made clear that wasn't the goal. 'Yeah, we wouldn't want to own all of it. We want everybody else to have their piece.' Saylor also pointed to the growing number of public companies adding Bitcoin to their balance sheets. 'The nice thing there is there's 160 companies that are capitalizing on Bitcoin in the public market — up from about 60 last year.' The big question: Can Saylor buy all remaining Bitcoin? Bitcoin is special because it has a fixed supply — only 21 million will ever exist. As of now, nearly 19.9 million have already been mined. That leaves around 1.1 million Bitcoin still to come. But not all of those 19.9 million coins are accessible. It's estimated that 3 to 4 million are lost forever, and another 1 million is believed to be held by Bitcoin's mysterious creator, Satoshi Nakamoto. If you remove the lost coins and Satoshi's stash, that leaves about 14.9 million Bitcoin that are potentially available in the world. Out of that, public companies already hold nearly a million. One company alone — Strategy (previously MicroStrategy), led by Michael Saylor — holds over 628,000 BTC. That's more than 4% of all the Bitcoin that's circulating here's the big question: what if Saylor tried to buy everything that's left? That would mean trying to purchase the remaining mined Bitcoin plus the coins that are still being mined — roughly 15 million coins in total. At today's price of $110,000 per Bitcoin, that would cost about $1.65 trillion. And then there's halving. Bitcoin undergoes a halving event every four years, and the last one was in April 2024. That means we're in a post-halving phase now, where the block reward has dropped from 6.25 BTC to 3.125 BTC per block. As a result, only around 450 new Bitcoin are being created per day, down from 900. By the next halving in 2028, it will drop even further to 1.5625 BTC per block. This halving schedule drastically slows the flow of new Bitcoin into circulation. So even if Saylor wants to scoop up newly mined Bitcoin, he'll be competing with everyone else — miners, institutions, and retail — for an increasingly tiny supply. And because the new supply shrinks while demand grows, prices tend to go up post-halving, not if he somehow managed to find the money, this plan just wouldn't work. Why? Because the moment someone starts trying to buy that much Bitcoin, the price would skyrocket. People would stop selling, liquidity would dry up, and regulators would likely get involved. The more he tries to buy, the more impossible it becomes. So can Saylor really own all the Bitcoin? No. The system simply isn't built that way. Bitcoin's decentralization — with millions of holders around the world — is exactly what makes it valuable and powerful. No single person can corner it, not even someone as ambitious (and bold) as Saylor. Michael Saylor's MicroStrategy could never buy all of Bitcoin first appeared on TheStreet on Aug 1, 2025 This story was originally reported by TheStreet on Aug 1, 2025, where it first appeared.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store