Viewpoint: Countries like Saudi Arabia and the United Arab Emirates may have already bought Bitcoin

According to market news, oil-producing Gulf countries such as Saudi Arabia, the UAE, 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. As Bitcoin's total market value has surpassed that of Saudi Aramco, the world's largest oil company, Saudi Arabia is receiving significant attention as the largest oil producer in the Gulf region. As holders of the world's largest sovereign wealth funds, investment trends in these Gulf oil-producing countries will have a significant impact on global cryptocurrency markets. At the same time, as host of an upcoming Bitcoin conference, it is believed that UAE might also participate in this trend. In addition to this recent speculation suggests that Qatar could potentially make a sovereign investment too.(protos)