According to BlockBeats, on November 14, Protos cited market news that Gulf oil-producing countries such as Saudi Arabia, the UAE or Qatar may be buying Bitcoin at the sovereign level. The relevant sovereign funds may disclose relevant information during the Abu Dhabi Bitcoin Summit from December 9 to 10. At present, the total asset management scale of Saudi PIF, UAE ADIA and Qatar QIA has exceeded 2 trillion US dollars.
The report pointed out that as the total market value of Bitcoin has surpassed that of Saudi Aramco, the world's largest oil company, Saudi Arabia, as the largest oil producer in the Gulf region, has attracted much attention. As the world's largest sovereign wealth fund holder, the investment trends of Gulf oil-producing countries will have an important impact on the global crypto asset market. At the same time, as the host of the upcoming Bitcoin Conference, the UAE is also considered likely to participate. In addition, there have been rumors in the market recently that Qatar may also make sovereign investments.
