On Sunday night (22), Binance founder Zhao Changpeng (CZ) retweeted a report that the United Arab Emirates (UAE) holds 40 billion dollars worth of Bitcoin, sparking widespread discussion in the community.
Fake news, or does CZ have insider information?
However, this news shared by CZ immediately attracted some people's skepticism, with cryptocurrency lawyer Irina Heaver commenting, "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 figure; collecting this data is quite challenging."
Higher than I imagined, but then again, there are a lot of 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 months, there were hundreds, and now there are thousands..."
The author believes that given CZ's influence and the insider information he knows, this 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 worth of Bitcoin, it will surpass the US and Chinese governments.
It is understood that the report retweeted by CZ originates from the foreign media CryptoDNES, which also states that its source appears to be unverified community rumors. With the UAE government actively building a regulatory environment conducive to the growth of cryptocurrency in recent years, attracting more and more major cryptocurrency companies and startups to develop locally, there are even reports 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 rumors say the UAE has purchased 300,000 Bitcoins (currently worth over 28.1 billion dollars), "If this turns out 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 approximately 411,978 BTC in potential holdings, which means that this Middle Eastern country may rank among the top three entities in the world by Bitcoin holdings, second only to BlackRock's IBIT Bitcoin spot ETF and MicroStrategy, and also the largest national government holder, surpassing the US government's 207,000 coins and China's 194,000 coins.
