On Sunday (22nd) evening, Binance founder Zhao Changpeng (CZ) retweeted a report about the United Arab Emirates (UAE) holding 40 billion dollars worth of Bitcoin, sparking widespread discussion in the community.
Fake news, or does CZ have insider information?
However, the news shared by CZ immediately led some individuals to question it as "fake news." Cryptocurrency lawyer Irina Heaver commented: "There is nothing in this article that indicates the UAE holds Bitcoin; it looks like a randomly AI-generated article."
In response, CZ said: "I also want to know how they arrived at the exact number; collecting this data is quite challenging."
Higher than I imagined, but then again, there are many wealthy people here.
At the same time, CZ also lamented the rapid progress of Dubai becoming a global cryptocurrency center, "I have indeed made a lot of money here. But I didn't know the number was so large, nor do I know how much of it can be attributed to my efforts. When I came to Dubai in 2021, there were only a handful of cryptocurrency companies here. Within a few months, there were hundreds, and now there are thousands..."
The author believes that given CZ's influence and the insider information he knows, his post indirectly confirms that the UAE really has bought Bitcoin, but whether the amount truly reaches 40 billion dollars is uncertain...
If the UAE really holds 40 billion dollars in Bitcoin, it would surpass the US and Chinese governments.
According to reports, the article retweeted by CZ originates from the foreign media CryptoDNES, which also indicated that its sources seem to come from unverified community rumors. With the UAE government actively building a regulatory environment conducive to cryptocurrency growth in recent years, attracting more and more major cryptocurrency companies and startups to develop locally, there are even rumors that the UAE's Bitcoin holdings have grown to a value of 40 billion dollars.
On the 20th, cryptocurrency analyst Lark Davis, who has over 1.3 million followers on X, pointed out that there are rumors that the UAE has purchased 300,000 Bitcoins (currently worth over 28.1 billion dollars). "If this proves to be true, then no one is bullish enough on Bitcoin."
Another analyst Trader T stated in the community that 40 billion dollars worth of Bitcoin translates to about 411,978 BTC in potential holdings, which means this Middle Eastern country could rank among the top three entities in the world for Bitcoin holdings, second only to BlackRock's IBIT Bitcoin spot ETF and MicroStrategy, and it would also be the largest national government holder, surpassing the US government's 207,000 and the Chinese government's 194,000.
