According to Binance founder CZ’s post, the United Arab Emirates (UAE) holds $40 billion worth of Bitcoin. Binance is currently headquartered in Dubai, UAE. However, the source of this information is based on some websites that are not clearly stated and no official confirmation has been made yet.
Cryptocurrency investors have been showing great interest in exciting announcements lately, and if this information is confirmed, it could be a very important development for the crypto world. Bitcoin is currently trading at $97,000 and CZ’s announcement was expected to create a huge impact in the market. However, since it has not been confirmed yet, no significant change has been observed on the charts.
Binance founder Zhao Changpeng tweeted that the UAE has $40 billion worth of Bitcoin. Since Binance is headquartered in Dubai, it seems likely that he will confirm this information. However, there has been no official confirmation of this announcement, the source of which is still unclear. CZ is expected to share careful and verified information on this matter, as Binance is known to have close relations with the UAE government.
Lark Davis, one of the well-known names in the crypto world, also shared similar information. Davis stated that there were rumors a few days ago that the UAE had purchased 300,000 Bitcoins, and pointed out that there could be a big increase if this information turns out to be true.
In light of these developments, CZ's delayed sharing of this information may indicate that the information has now been confirmed. If an official statement is made from the UAE front, the BTC price can be expected to rise rapidly.
If the UAE did indeed purchase $40 billion worth of Bitcoin, that would mean that a single country holds more BTC than the total BTC reserves of many private companies. For example, the US holds $20.1 billion in Bitcoin, while China holds around $18.8 billion. MicroStrategy also holds over $42 billion worth of BTC.