Is Saudi Arabia Really Buying Billions in Bitcoin and Ethereum? Here's the Truth
Rumors are swirling that Saudi Arabia and Qatar have bought nearly 1 million BTC and billions in ETH. But what’s fact and what’s fiction?
Saudi Arabia & Crypto: What’s Really Happening?
Crypto Twitter is buzzing with viral claims that Saudi Arabia and Qatar have purchased nearly 1 million Bitcoin and billions worth of Ethereum. But let’s break it down:
✅ What’s Confirmed:
The Saudi Central Bank (SAMA) recently acquired 25,656 shares of MicroStrategy (now Strategy Inc.), a company that holds over 568,000 BTC. That gives Saudi Arabia indirect exposure to Bitcoin via equity investment.
❌ What’s Rumor:
There’s no official record or confirmation that Saudi Arabia or Qatar directly bought BTC or ETH. The viral claims are unverified and appear to be social media hype without evidence.
KSA Bitcoin: Is the rumor true?
Saudi Arabia is clearly leaning into the crypto sector—but there's no solid proof yet of direct Bitcoin or Ethereum purchases. Still, the MicroStrategy move signals the Middle East’s growing role in the global crypto market.
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Rudy Fares
Equity Trader, Financial Consultant, Musician and Blockchain Aficionado. I spend my time doing Technical and Fundamental Analyses for Stocks, Currencies, Commodities and Cryptocurrencies.
Regular updates on Web3, NFTs, Bitcoin & Price forecasts.
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