Viewpoint: Saudi Arabia, the UAE and other countries may have bought Bitcoin

According to market sources, Gulf oil-producing countries such as Saudi Arabia, the United Arab Emirates, or Qatar may be buying Bitcoin at the sovereign level. Relevant sovereign funds may disclose related news during the Abu Dhabi Bitcoin Summit from December 9th to 10th. Currently, the total asset management scale of Saudi PIF, UAE ADIA, and Qatar QIA has exceeded 2 trillion US dollars. With Bitcoin's total market value surpassing the world's largest oil company Saudi Aramco, Saudi Arabia, as the largest oil-producing country in the Gulf region, has attracted attention. As the largest sovereign wealth fund holder in the world, the investment trends of Gulf oil-producing countries will have an important impact on the global cryptocurrency market. At the same time, as the host of the upcoming Bitcoin conference, the United Arab Emirates is also expected to participate. In addition, there have been ongoing market rumors that Qatar may also make sovereign investments. (protos)