KARACHI – Several countries, openly and covertly, are using cryptocurrency for a hose of operational, investment, and transactional purposes however Pakistan decided against trading or mining cryptocurrencies mainly Bitcoin.
Lately, Chairman Technology Movement Pakistan Waqar Zaka comes to light as his bang-on predictions about Bitcoin mining stunned everyone. Social media users were astonished by predictions made by tech enthusiast who pushed to convince state officials about taking a dive in the crypto world but later ended up leaving the country for good.
Zaka, who is now facing legal cases in crypto related cases, made the predictions back in the day when Bitcoin was at $268, it was the regime of deposed Prime Minister Nawaz Sharif, but to no vain as he got no response from the IT ministry or other officials.
He however continued to push his rhetoric in the next government of Imran Khan and even called on Zia Ullah Bangash, then former MPA in KP, and the latter asked Living On The Edge host to set up a hydro mining project.
In a desperate bid to prove his claims, Zaka then sets up a hydro project for mining, spending around Rs20 million using his own resources. It was Covid pandemic time when Zaka continued to push the government to set up hydro mining farms; and that time BTC was hovering around $5000, which later skyrocketed.
Lamenting the nonserious behavior of government officials, Waqar referred to recent news which revealed that Bhutan secretly mined Bitcoin as the country of 0.77 million has been quietly mining crypto for years without telling a soul – including its own people.
As Western world used electricity to mine BitCoin, the South Asian nation managed to mine crypto in a sustainable way using its massive stores of hydroelectricity which is a cheap alternative.
So #WaqarZakaWasRight pic.twitter.com/8gWrgXnoSO
— Waqar Zaka (@ZakaWaqar) May 3, 2023
Waqar also wanted the same for Pakistan’s northwestern region where environment is also in check to cool down heated-producing machines. Making more predictions, Waqar said digital trading currency will be back by digital assets like BitCoin and other currencies in the near future.
Waqar Zaka decries ‘death threats’ after being declared absconder in crypto-currency case
