The IMF is forced to soften its opposition to Bitcoin

The International Monetary Fund (IMF) has softened its usual position against Bitcoin (BTC), since the organism has not been reluctant to a Government Pakistan plan that seeks to boost the mining of this cryptoactive and artificial intelligence (AI).

Although initially it was reported that the agency had rejected the proposal, Both the IMF and the Pakistan government denied that version and confirmed that the negotiations are still ongoing.

The controversy broke out after statements by the Secretary of the Pakistan Energy Division before the Senate, which gave rise to speculation about a possible IMF negative to the use of subsidized energy for technological projects.

The initiative is part of a national plan launched in May, which contemplates allocate 2,000 megawatts of electricity surplus to Bitcoin mining projects and AI data centers. This is with the aim of positioning Pakistan as a reference in digital innovation.

In recent months, Pakistan has taken firm steps to consolidate as a country promoter. As Cryptonotics reported, he incorporated as Bitcoin advisors to outstanding figures such as Changpeng Zhao (CZ), former CEO of the giant Exchange Binance, and Michael Saylor, founder of Strategy, the public contribution company with more BTC in the world.

The IMF, historically critical of Pro Bitcoin policies, has adopted in this case a more diplomatic tone. Through its representation in Pakistan, the agency acknowledged being in contact with the authorities.

“IMF personnel have held information technical dialogues with the authorities to deepen their plans related to the development of the technological sector,” said Mahir Binici, representative of the IMF in Pakistan.

For some analysts, this movement is worth mentioning. Daniel Batten, researcher and defender of Bitcoin, qualifies it as a geopolitical event of great relevance.

“What is happening in Pakistan is one of the most important geopolitical events of the year and the western media are asleep behind the wheel,” said the specialist.

According to Batten, the IMF has been forced to mask its opposition after an apparent technical dialogue, instead of directly rejecting the proposal as previously made with El Salvador.

In the researcher’s opinion, the countries that have invested in Bitcoin, as bután that already accumulate in the currency 40% of its GDP, dismissing the warnings of the IMF about instability, not only have they seen their economies prosper, but also They have put in check the relevance of the multilateral organism.

Although the agency approved in 2024 a new disbursement of 120 million dollars in El Salvador, after a preliminary evaluation in May of the agreement conditioned its support to stop its BTC purchases. However, despite the insistence of the IMF, the Salvadoran government remains firm in its strategy.