top of page

Analyst Speculates Possible 1 Million BTC Purchase by Saudi Arabia and Qatar in the Coming Week

bitcointimescy

Updated: Feb 29, 2024

The governments of Saudi Arabia and Qatar are considering a substantial investment in Bitcoin, with a potential announcement anticipated in the upcoming week.

Bitcoin

Image by DC Studio in Freepik


Speculations about significant Bitcoin investments by the Saudi Arabian and Qatari governments, initially brought to attention by Bitcoin advocate Max Keiser, have gained widespread attention. Keiser's tweet, mentioned in a video, suggests that the planned Bitcoin investments from these two nations will surpass previous commitments made by major entities like BlackRock and MicroStrategy.


The shift towards Bitcoin as a primary cryptocurrency asset is linked to a Saudi cleric's proclamation that Bitcoin aligns with Islamic principles. Additionally, there are reports indicating a collaboration between Saudi oil giant Aramco and SBI Holdings in the digital asset space, further signaling a positive outlook for Bitcoin, as highlighted by the analyst Verrengia.


Simultaneously, another report suggests that the Qatari government is contemplating allocating approximately $500 billion from its sovereign wealth fund (SWF) into Bitcoin. Notably, these rumored investments align with the sentiments surrounding the launch of a spot Bitcoin exchange-traded fund (ETF) in the United States. The market is keenly watching for potential developments in this significant shift towards Bitcoin investments by these Middle Eastern nations.

  • White Facebook Icon
  • LinkedIn
  • Whatsapp

BITCOIN TIMES CY NEWSLETTER

Join over million readers and get the latest posts delivered straight to your inbox.

Thanks for submitting!

*Disclaimer: The opinion presented here should not be interpreted as investment advice; rather, it is intended solely for informational purposes. It may not necessarily align with the perspective of Bitcoin Times Cy. Given that all investments and trading carry inherent risks, it is advisable to conduct your own research before reaching decisions. We advise against investing funds that you cannot afford to lose.

You should refrain from making any decision, whether financial, investment, trading, or otherwise, solely relying on the information provided on this website. It is crucial to conduct your own thorough research and seek guidance from a qualified broker or financial advisor.

Bitcoin Times Cy cannot be held accountable for any inaccuracies, omissions, or errors on this website. Moreover, Bitcoin Times Cy cannot assume responsibility for any trading or investment losses experienced by visitors to the site, even if such losses arise due to errors.

You understand that you are using any and all Information available on or through this website at your own risk.

© Copyright 2023 All rights Reserved | Bitcoin Times Cy

bottom of page