Bitcoin Forum

There is a rumour going on about an potential $500 billion investment into BTC by the Saudi governments, As we know today BTC just dropped below $40k. I am having a very strong feeling that this would be the perfect time to invest, What are your thoughts about this and price predictions for next week if the this "rumour" becomes a reality?

We all know that bitcoin is still going to increase later on the year some people can not buy bitcoin due to its high prices and also transaction fees however it is extremely recommended that when the market goes down or sees a slight decrease in price then you should definitely buy some buy at a price where it is low for you

There are so many Bitcoin price prediction thread in the speculation board that you can discuss what the price of Bitcoin will be. So for me there is no need of creating another price prediction thread here.

But for the news about Saudi Arabia it's another wise investment that will also increase the Bitcoin adoption over there because more citizens will want to follow the countries decision and invest in Bitcoin (if only the news is true).

Where do you know this rumor? Do you read the rumor on crypto news channel?
Since it is just a rumor, it is difficult to trust the news. Saudi Government isn't like El Salvador, they have enough money and they are not urgent to invest their money into Bitcoin. It is very different with El Salvador who invest in Bitcoin because they want to improve their financial level. Also, I'm not really sure about the status of Bitcoin in Saudi. As far as I know, Saudi Arabia is a grey area of Bitcoin, the status isn't really clear enough.

You don't need to use your feeling. Everyone must understand that it is the right time to invest their money before the Bitcoin halving. If we look the history, Bitcoin should begin to increase massively after the Bitcoin halving.

if some countries have the knowledge or proper understanding of investment so many of them would have invested in cryptocurrency especially Bitcoin for a long time ago because of a country economy or inflation that may occur in a country so that is why they need a diversification of economy so that the country will not lack one ever one side of the investment all the economy of the country those negative so it will not affect the country, so many countries today are facing economic error and challenges because they are not wise enough to diversify the process of their income

I haven’t heard any rumour of this happening. It would help if you added a links to articles where it was published. Still, I wouldn’t put it past the Saudis government, they are very prudent with money. In the last few years, they have invested heavily in sports - football and boxing. And have brought major attractions to their country. The only challenge I can think of is their religious belief, I read somewhere that it’s frowned upon for a Muslim to own Bitcoin. 

I was also not sure about this all but after having some search and looking things around about this all now I was also having this update as Saudi Arab is having bitcoin as legal tender and peoples can buy and sell this without any problem so look like things are taking good change about this, and we can expect some good movement for the bitcoin as well if things like these are going to happen as announces.

UAE was doing good work about crypto related technology and now after their some success we are having more Gulf region countries which are preparing to have their share in this market as well which will create good competition and better results for the investors as well.

https://coinedition.com/saudi-arabia-qatar-rumored-1m-btc-buy-could-come-next-week-analyst/

https://cointelegraph.com/tags/saudi-arabia

Even though this is just a rumor, this rumor will strengthen the community and will attract the interest of speculators who want to take advantage of the moment which will then have an impact on strengthening the price of bitcoin. I don't have any price predictions here, but clearly, if this rumor turns out to be true, we will not only see $500,000,000,000 of money flowing into bitcoin, but much more than that.


Bitcoin is legal there (https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory#Saudi_Arabia), it's just that the government does not guarantee any security for adopters in their country, because bitcoin is considered high risk. This rumor is related to the government of Qatar - Saudi Arabia, this is a good sign because if the rumor is true, we will see a better status for bitcoin there of course.


Coinmarketcap: https://coinmarketcap.com/community/articles/65aec35fc28cdc3e9dc2e561/


It is not completely true or not 100% legal that a Muslim cannot own bitcoin, it is still a matter of debate among religious leaders.

Rumor is rumor and you should not trust rumor and action because of rumor.

Focus on history like historic cycles, halving effects, length of bull and bear markets then make your investment plan to enter and exit the market.

HODL your bitcoins is key to get profit and avoid panic, fear and lose your bitcoin by selling because of news, rumor.

There are legality maps over nations and you can get them in Some world maps for Bitcoiners (https://bitcointalk.org/index.php?topic=5471817.0).

Middle East nations are very friendly with Bitcoin and cryptocurrencies.

I don't know if this is plain rumor or if there is a little amount of truth in it. My guess is that this is not that serious, at least not yet. Who knows what the rich Saudi government would suddenly want with their money right? But for now, I think this is just to hype Bitcoin, just to stir some FOMO in the market with an unfounded possibility. Of course the rich Saudi government is spending and investing in start-ups and technologies, but I seriously doubt they have half a trillion dollars for Bitcoin.

So now it is Saudi Government,if this is going to be real and that 500 billion investment into bitcoin?

https://coinmarketcap.com/currencies/bitcoin/

This will make Bitcoin into Trillion capitalization again and will make this one to the 100k value that
soon.

But what is the title means? 1million BTC ? if you are talking about 1million bitcoin that 500 billion could buy
then that is wrong because it can buy 10 million bitcoin or more instead given the value now.

Buy rumors, sell news and that's the way many people use it to make a lot of profit. We don't need to be afraid of rumors, but we need to verify them before deciding whether to believe them or not. Just as many people made huge profits from ETFs rumors for months before it became a reality.

The historical cycle can also change or not repeat, we can expect history to repeat but don't be too subjective because nothing is 100% certain. There is no evidence that history will definitely repeat itself, everything is just predictions and expectations.

I agree with you here because I haven't heard any rumors about Bitcoin in Saudi. But the OP should have registered the link here. Because the op may have seen it somewhere which is why it said that. Yes it is true that the Saudi government is very prudent with money because they have spent a lot of money on football and boxing in the past few years. The amount of money they spent on buying various stars created a stir all over the world. But in this case I am not making any theory that they can definitely buy bitcoins if they want to. But if they are really buying Bitcoin we will definitely see it in the press very soon.

Besides it does not really matter that much if the rumor is true or not, as even if it was true if you are a long term holder at most we could see the price going up higher than what it could have achieved on its own without that purchase, and you will only earn a small amount of money out of it.

While those that trade the markets will buy a little bit earlier than expected and also increase their profits by a small margin, so not much will change even if this were to happen.

I would not be surprised by the Saudi government investing its money in Bitcoin, after all the Saudi government there has strong reasons and if I'm not mistaken, Saudi Arabia is quite friendly with Bitcoin and other crypto. Their money is unlimited right? so by releasing what we think is a very large amount can provide a strong boost. What the Saudi government may realize is that this year Bitcoin could make a profit as it faces a halving year. In my opinion a purchase of $40K is still very worth it, and they don't feel like they are losing out on what they have spent on that amount.

Are you sure that blackrock isn't messing up the Bitcoin price? At current level it is the best time to buy Bitcoin. So I won't be surprised if the news of 500 billion USD investment is actually true. I won't be surprised if blackrock suddenly emergence as the biggest institutional Bitcoin holder of all time. A lot of manipulations are on going in the background.

After the approval of ETF, we all thought that Bitcoin price will touch a new all time high. Clearly that isn't the case. Someone with far more power than we can imagine, is surely messing up with Bitcoin in the open market.

I haven't seen a proper source for this news, it wouldn't be right to talk about baseless rumors. If this is going to happen, it will take a very long time for them to collect this amount. It's impossible to buy that much without raising the price significantly. Anyone can invest as much as they want in Bitcoin, it's natural for governments to get involved, but the amount is $40 billion at the current price which seems too high to me to be real. If such a decision is to be taken, I would expect small purchases to be made first, like El Salvador case.

The total capitalization of bitcoin is currently just over 700 billion USD and Saudi Arabia will spend 500 billion USD to buy bitcoin? That sounds funny because if they did that they would buy 60%-70% of the bitcoins circulating on the market.

OP do you have any links to the news you are talking about? Because it sounds very absurd to me and if you read that article, can you tell me why Saudi Arabia made that decision? I know Saudi Arabia is a rich country but I don't think they will spend money without a plan and 500 billion is not a small amount of money. Personally, I really don't believe this.

NOPE

the saudi portfolio of about $500b is not throwing it all into crypto

they have said their gearing towards investing in the southern asian projects. aswell as the 'BRI'(new silk road) stuff.. and NEOM city
by the way the latest rumour is a month old.. so your out of date, dont expect a pump

max keiser spouted about saudi aramco in december.. and is trying it again this month
then main stream media just sheep copied the narrative without research or confirmation

the same story will probably spin next month too

all of this started from a story from saudi from april 2023
where they said they wanted to spend $500b on the NEOM city and then using crypto make a web3 VR twin of the city to trade, sell.lease virtual property and twin prices
.. then the rumours began about injecting $500b into crypto. and thus the rumour mill span and twisted and weaved all year

There are a lot of things going around about Saudi Arabia that cannot be confirmed. I know one of the rumours are that Saudi Arabia wanted to join the BRICS countries and then suddenly decided that they did not want to join anymore.

We know the BRICS countries wants to move away from the US Dollar as a global reserve currency and they want to use their own currency.

So it will be interresting to see what side they choose. 

I’ve been hearing about investments from the Saudis for a few years already. It seems that every few months someone makes a tweet and then people get the word out and it spreads and people think it’s real.

Basically $500M is nothing for those countries, so it’s possible they might invest, especially after the etf has been approved. But until we get something concrete then it’s nothing but a rumor.

Well, it's big news if it happens, but as you said, it's only a mere humour, so we can't be sure if it will happen; we still don't have a legitimate source that it will happen. But for those who are already holding BTC, I'm sure if this news becomes reality, they will earn a lot or benefit from it. A 1M BTC buy is not a joke; it will surely have an impact on the market, and we can see a good opportunity to earn. We can have an entry into the market, but what if it never happens? Well, there's nothing for us to lose because the BTC market is still showing a great movement where we can spot good opportunities to enter and earn. To think that the Saudi government will make such a decision, it is hard to believe and imagine that a government will risk a huge amount of money to invest.

No doubt Saudi and Qatar will buy that amount of Bitcoin using their sovereign weight funds as stated on that article. I think this is because of the previous approval of Bitcoin ETF by SEC. They might have the trust on it right now because of that approval. Though just rumors but still worth the wait for any confirmation in the coming weeks by these governments.

I know we will get to this stage in Bitcoin, a stage where many institutions and governments will realize the potential and beauty of Bitcoin. Even though this may be rumors, there is a popular saying in my country that "there is no smoke without fire". Sooner or later, some of these rumors will become reality. The approval of the Bitcoin ETF might just be the pathway to more cashflows into Bitcoin even from institutional investors.

I can only imagine what this amount of buy will do to the price of Bitcoin. It it eventually scale through, that will be the biggest pump of all time as Bitcoin may see new ATH even before the halving. The mere confirmation of the news is even enough to initiate the bull run.

I was also surprised when I heard that Saudi Arabia wants to join the BRICS nations since they have a very close diplomatic relationship with the US. The kingdom depends more on the US for security, so moving away from the dollars will have dire consequences. The country's minister of commerce Majid Al-Kasabi clarified that the Kingdom has been invited to attend BRICS summits which doesn't mean joining formally.

In almost all the news outlets that reported the news, the information was called a rumour. What makes it more unreliable is that it didn't emanate from any Saudi or Qatari government official but from Max Keiser. I wonder where he got the information since he didn't state the source of this information. But it is good news to the Bitcoin ecosystem to see rich economies like Saudi Arabia and Qatar having an interest in the currency. 

Is the rumor created by the Saudi government investing 500 billion dollars in BTC really true news or any news made by you? If there was such news then surely we would have seen it on some X media or various social media. Be it true or a lie, if you had registered that news link here, we would have believed it. However, the Saudi government has no qualms about spending money, but we saw it last season by buying the most famous players. The Saudi government bought the most famous players but created a stir all over the world, from that I can say that the Saudi government can take such steps.

Finally, I'm not making any price predictions here about the Bitcoin market because price predictions are completely irrational. But the price has reached the current position since a few days ago and this position is worth investing.

Yes, we know that KSA is interested in Blockchain technology but there is not any verified news about this, from where you get this news please share the link so we can also watch it. Yeah if this is true then of course the price will go up because this is a piece of positive news for the market and you need to buy it for now but only in this case if this is true. But based on rumors we cannot provide you any advice on whether to invest or not. Bitcoin Is a volatile asset and can change its price at any time so for its significance it is necessary to do a deep analysis and research on this news as well as on the Bitcoin price, one should never make any decisions based on rumors.

When you hear about investments, especially from big players like Saudi Arabia, it's easy to get excited. But it's like a game of telephone because news can get exaggerated or misinterpreted. Best to wait for solid proof like official announcements or clear evidence, instead of jumping on the hype train based on rumors or tweets.

All investors know that when the price of Bitcoin goes down the crypto market goes up again. These fluctuations are normal. But I don't know of any news about possible $500 billion investment in BTC by the Saudi government or maybe it's just a rumor. Increasing Bitcoin investment in crypto helps increase trust and confidence in the industry as people see brands they know and trust that use a particular asset. Bitcoin is a profitable currency to invest in.

In general this information is not really that valuable:

Big funds buy all kind of assets to spread the risk and maybe make the occasional 100 x return if they are lucky.

But as you see with Softbank and their multi Billion WeWork investment, which was a nice course how to turn billion into millions, things not always go as planned.

So maybe Saudi Arabia buys 1 M bitcoins, but what would be the effect on the Bitcoin price 1 year after that nobody really knows.

Just stick to your predictions, and if you get it wrong you know who to blame ..

:)

Yes, I am also reviewing BTC market price daily. Where today's price is showing around $38k and I think the price may drop further by next week. Maybe it will cost around $33k or $35k. Then I think its value will increase a lot. Maybe it's 2x or 3x. But its value doesn't depend on my words, it totally depends on people's usage and people's belief about Bitcoin.

If these rumors are true, it seems that the Saudi Arabian government believes that the Bitcoin Halving will occur, so it has decided to invest large amounts in Bitcoin when price movements experience a decline.  Of course, in the future there will be a sharp increase when market prices continue to move to their lowest point

I agree with you here, but does not the profit get less during halving when more and more individuals know about this chance? So the profit should be less this time then 4 years ago and so on.. or does it work in some other way?

op I agree with you it's really good news if the Saudi government and UAE make such announcements or decisions about Bitcoin investment, it's definitely very positive for Bitcoin. Of course we can expect more competition in Bitcoin investment. The current Bitcoin market has reached $39k, so many of us who can't afford to buy Bitcoin when it's high can buy it if they want to. Because now that Bitcoin has reached $39k we can buy and hold it now if we want to sell it as the price goes up and we can make a lot of profit.

It's still just a rumor, don't be too hasty thinking that it's something that will be influential in a positive way because it's probably not even true at all. What's even the reason why they're planning to drop that much money into crypto though? 500 billion is a lot of money so it's probably just a rumor or maybe the truth is that it's a much smaller amount.

That sound impressive, investing now could bring about many opportunities for those who can take quick advantage in making it while we are still on the dip, we may have it on a short period before the market then plan to begin to rise back till we get to the all time high we have always wanted, we know how people are taking this serious in making decisions on when to invest and seeing this now will also be the perfect timing to invest on bitcoin while the market is still bearish, there's nothing like rumor in this, this is what the Saudi Arabia government can, we need to learn to see more of what's happening with bitcoin adoption in middle east to know they are not also left out in this

Investing in Bitcoin is always a good opportunity if done before Bitcoin hits its latest high. The Bitcoin halving is near and if the rumor is that Saudi will invest in Bitcoin in that amount of money, then Saudi is not too late.

In my opinion, this week and the next few days the crypto market is still in the red. If we cannot afford the large amounts of Bitcoin purchases made by large companies and governments like Saudi, then we must take advantage of the price correction opportunity to buy what we can.
Those who have large capital are not surprised to do something that is beyond our abilities. Those who have a lot of money are always in a position of greater advantage than those of us who do not have large capital capabilities.

There was a rumor that when all the ETF's were aproved the Bitcoin price would increase a lot.
And have you seen it?? :-)
By the way all the big parties dont buy or sell via exchanges, they do it OTC so it will not affect the prices.

Most of us did not take into account that one of the companies that also received approval for the spot ETF has more than 600 000 BTC in its possession, of which it has already sold about 80 000 BTC worth about $3.3 billion. As far as I can see, this is currently the only reason why the price is going down.

As for this insane investment of $500 billion, it has already been explained that it was not about investing in Bitcoin, but about some kind of "crypto project" that was talked about years ago. Besides, does anyone think that it is possible to just buy BTC for that much money when all mined BTC are currently worth just a little less than $800 billion?

A rumor is still a rumor. I will believe this only when this rumor is confirmed and Suad Arabia invests in the bitcoin. Only facts matter, not rumors.

You probably think that after investing them, the price of bitcoin will increase significantly and this "$500 billion investment" will affect the overall capitalization of bitcoin? Is this why you think now is a good time to invest in it? In theory, any time is good to buy bitcoin, if you measure it not in a couple of months, but in years.

Don't chase rumors. In investing, you need to trust strategic planning, not "a very strong feelings".

This is just a rumor tweeted by Max Keizer's influence and then speculated by other influences so that the news becomes wild and everywhere.

I don't know what will happen next week that Saudi Arabia will invest a large amount, I'm not sure about this rumor maybe they just want to make a profit because usually this news will quickly rise especially when it comes to a rich country investing in bitcoin.

First of all, there are some facts that make it look like there's some truth to this. It looks like the Ruler of Qatar spoke with Bukele about this and wanted to know more about the way El Salvador acquired and stored bitcoin. The 1m number can be a rumor, but the fact that these governments were showing interest in bitcoin is more of a fact than anything else.

They might buy 1m, or nothing at all, but the mere fact that they're asking about it when years ago the whole world thought bitcoin to be another bubble is important because it shows the change in narrative.

Also, they could be interested in bitcoin because they have a lot of inflows and don't want to hold any USD, since Saudi Arabia and the UAE are a part of the BRICS now. One of the main goals of this group is to weaken USD.

It's indeed a massive sum, $500 billion. These rumors create significant interest, especially considering Bitcoin's recent correction; now seems like the opportune moment to enter with such an amount  ;) Saudi Arabia's investments always intrigued me, so anything is possible; they could provide a substantial boost to the market. Thus, I hope these rumors turn out to be true

it would be good to see some links from the Saudi news link to confirm these rumors but i see none. i saw one but it's just from a crypto site. $500B will greatly spike the price of BTC.  these Muslim countries however have their Sharia laws about BTC being haram though making this rumor a bit insane.

i don't see this as impossible though because if the US government is okay with BTC as we see SEC approves ETF, i think the Saudis would be willing to consider it. 

I haven't heard any such news about Saudi Government buying in bulk and as far as considering to buy BTC every single dip is an opportunity but don't heed to rumours of saudi government buying BTC because had it been the case we would have seen it in multiple platforms.

Coming back to your question about the next week, I guess we would see gradual movement in price and might not see sudden spike or dip,May reach to somewhere around $42k.

Any real source? Or just rumours started by you? Till now, I know cryptocurrency isn't legal in Saudi Arabia. Just a month ago, I was there, and I asked my friend. He said it was illegal here. So suddenly Saudi Arabia won't invest in Bitcoin officially; at least I am not going to believe until I find any trusted news source. Perhaps a few people become panicked due to the recent dump and want to push Bitcoin by rumours. I will say don't focus on that; just take advantage of the volatility. Most of the time, volatility happens due to news and rumours.

It's definitely just a rumor at this point and I'm sure it'll happen.  I don't think it has yet though or it would be all over social media as they try to pump their investment.  I think it is likely that the Saudis are sitting on billions and waiting for the right moment to pounce.  If I were advising them, I would tell them to wait for the mtgox distribution and see what 200K BTC hitting the market does to the price.  Then I would scoop up all the BTC I can at the bottom, right up to the price they don't want to buy anymore.  I think this moment is coming in the next 8 months almost for sure.  Possibly even in the next 4.

Could you imagine what that would do to the price of btc if that was true?
As much as it sounds great but unfortunately it is not as what is being said. The investment is not directly to buy btc, although if the plans were to be executed as described perhaps it will have a positive impact on btc. Qm btc is a lot and would have caused an early bull market before btc halving. However,  let's hope serious btc investment will start to come in now that the btc end has been approved.

This is not that recent. The rumors surfaced last month after Qatar and El Salvador talks about a partnership. It seems that Qatar had the same problems with the IMF as El Salvador and wants to show the middle finger to the banksters and instead invest in Bukele's ideas and among these ideas are new technologies and bitcoin. They had diplomatic relations since 2003 and met in September 2023.
The rumor about Qatar being interested in bitcoin doesn't come from nowhere. In 2021 the CEO of the Qatari sovereign wealth fund said that they will consider bitcoin when it becomes a little more mature.
One of the official subjects of the talks in September were Qatar investments in El Salvador, this was a part of the official note. Suddenly 2 months later Keiser who lives in El Salvador came up with that idea. Maybe he was fed this by someone close to Bukele, but it's not confirmed yet, or he really got it right, but I doubt he made it up.

The most probable scenarios are:
-Someone leaked that information to Keiser to mislead him, or was mislead by someone else before telling Keiser.
-The information is real and the Qatari fund had such plans but it's not yet confirmed if they'll go through.

There are different rumors in the market and we don't have to keep attention to that since our motive is to invest in cryptocurrency and try as much to take our profits. The market is still at the right price for us to buy and hold for as long as possible. I believe the market is going to be bullish too and that would make us to benefits from the market depending on the quantity of Bitcoin we have or we have invested. If the story is true, that mean Saudi Arabia would be in huge profits by the time the price of Bitcoin skyrocket to $100k. The opportunity that is in cryptocurrency is huge and we don't have to miss it allowing our ignorance to eat us up.

Not only is it going to be the year of Halving, it is the year of rumors, so, it has some history, it is not a classic "news Fake" either, anyway, bitcoin resonates this year with many investors, it is the year where many believe that Bitcoin dreams come true.  8)

Do you have any sources for these rumors? I haven't read anything about them yet. So far, Saudi Arabia has mainly invested its wealth in foreign bonds and global equity investments, where they regularly receive interest and dividends. Why would they want to invest half a trillion in Bitcoin now? It makes no sense on this scale, unless they are pursuing a longer-term plan to become less dependent on the West.

Maybe they plan to nuke Israel and worry about sanctions by the West, similar to the ones given to Russia locked out of Swift and so....

Good, then next?

The BTC Spot ETF is way bigger than of this news as those are with trillion dollar investment companies. But everything is welcome on the community and this market.

As long as these are just rumors then it's better to leave it as-is before celebrating or being happy with that news. It's like it's still in the paper and we'd just hear the news when it actuall comes.

It will not become a reality, and one should not invest based on rumors and FOMO. It's worth noting that there are no confirmations or reliable sources that have verified the claims regarding Saudi Arabia and the wealthy oil-rich Gulf countries. A Bitcoin enthusiast on X mentioned this rumor as speculation and has quickly spread on social media and news blogs. Now, Several YouTubers have capitalized on this rumor to create videos and generate views.. It is not logical for Saudi Arabia and Qatar to invest $500 billion in Bitcoin, which would constitute approximately 5% of the total circulating supply of Bitcoin, surpassing Wall Street and many other reasons mentioned here. The goal of these people who help spread rumors is to influence the price of Bitcoin through beginners who may believe and invest based on the information presented to them, and the other goal of spreading such rumors is to achieve fame and money.

Without a link, the news is not just a rumor but a made-up story. In my opinion for Saudi Arabia allocating $500 billion to buy Bitcoin is not a difficult thing, but have you checked what Bitcoin's current market capitalization is? that's about $783 billion so they will own more than 50% of what is traded, it is very possible that there will be panic because by owning such a large portion they will influence the market and make the Bitcoin market even more unhealthy because they can dump it on the market whenever they want.

Guess if Saudia Arabia really wants to buy 1 Million Bitcoins it will be a low profile project. A couple of thousand here , a couple of thousand there, all spread between plenty of wallets, they are not in a hurry- it will be a longterm project.....

:)

Typically, such rumors are spread by manipulators at the beginning of a bear market, so that the masses of retail speculators do not sell their bitcoins, but create counter liquidity for the exiting whales. This is classic price manipulation. Rumors are perfect for this. Better than rumors are only expectations, although rumors also form expectations. Expectations are not based on anything I must say. If the Saudi Arabian government wanted to buy Bitcoin, it is unlikely that they would spread rumors. They would just buy it and not shout about it at every corner. We will most likely soon have the opportunity to hear denials from Saudi Arabian officials.

Let's be realistic my friend. Who the f says that?

Of course recently we have seen the price of Bitcoin rising and of course this is happiness for BTC holders, but in the last few days the price of BTC has been decreasing and I think this is a normal correction and I am sure that at the time of because Halving btc the price of BTC will rise high.
yes, I just read this news here is the link:
https://pintu.co.id/news/67446-arab-saudi-qatar-beli-btc-1juta-dolar
https://www.talkimg.com/images/2024/01/25/ktYVJ.jpeg
Image Source: https://pintu.co.id/news/67446-arab-saudi-qatar-beli-btc-1juta-dolar
In my opinion, if Saudi Arabia and Qatar buy BTC in that amount, I think BTC holders will party because they will definitely be happy because it will definitely have an impact on increasing the price of BTC, and honestly as a BTC investor I also feel happy if Saudi Arabia and Qatar buy BTC in that amount. which is a lot and I also hope that Qatar and Saudi Arabia buy BTC in large amounts.

But in my opinion, if Saudi Arabia and Qatar don't buy BTC, it's certainly not a problem for BTC holders in the long term because BTC has good cycles and habits such as the BTC halving and Bull Run.

Of course this is the best time to invest but the one who has the best capital can get the best returns. We have never seen any interest in Bitcoin from the Saudi government, but when they do we all know they have a lot of money. $500 billion is a lot of money, and it's easy to imagine how that amount could grow in value if invested in Bitcoin.

Adding this huge amount to Bitcoin's market cap, its value can go up to $100k. Such a large investment in Bitcoin is not good for a small investor, as there will be no scope for small investors. However, I think the Saudi governments are not interested in Bitcoin, as they have plenty of resources and places to invest.

I mean the expectations only actually made the price to go high during those period, this whole scandal with the approval of Bitcoin ETF was just too hyped that the price has already risen so when the SEC actually did approve it there was nothing to hype anymore although like you said many top hands can still influence the price of Bitcoin and its market as we have seen that some scenario and happenings also causes these price fluctuation.

It was only a rumour and maybe the intent of it is to make the people FOMO and then they'll dump the price after. So if I were you guys, I won't bite on it because the more the people do, the more they will do it. They think the people here in crypto are too easy to fool. Let's prove them wrong. Let's not tarnish the reputation of cryptos. Anyways, I think the perfect to invest is anytime.

So we can invest today, and we can just ignore the market. But if it dips more we can also choose to buy more, if our strategy is not DCA. Although even if we are DCA'ing, there are still times that the price is dumping on our buying dates. Overall, if ever the rumour turns out to be real. Those who FOMO are lucky because the price is surely going to pump.

I haven't seen either but I wouldn't believe it even if any legit source wrote an article about it. Probably a speculation to play, pump and dump Bitcoin's price. 1 million Bitcoin is a 5% of total bitcoins, an amount that probably Satoshi owns. At the moment, 1 Million Bitcoin is 39975600000 American dollar. What a silly amount of money. I know that Saudi people are paying crazy amounts of money but I can't believe they paying this much. This will cause a massive spike in Bitcoin's price and the amount of dollar that I converted just right now, will grow further when they start buying coins.

At this stage the story is just rumor, I don't think that any reputable news sites had said anything about Saudi, government investing in Bitcoin, with that kind of mind boggling amount, although with their wealth they're capable of investing in Bitcoin, although I doubt that they need Bitcoin investment to boost their robust economy. As you said it might be FOMO to stir the price of Bitcoin, probably aimed at letting investors to sale now, so that they can buy it all, anyways despite the slight drop in price, we're still predicting Bitcoin to reach $100k at the peak of bull run.

The fact is I think that rumors are one kind of trap. If someone invests depending on Rumors, then it will be foolish, maybe many will invest to buy BTC after seeing this rumor, but it will be very risky. I think even if the rumor is true then you should not invest based on it. I myself and many of my friends have seen losses in most cases while making investments depending only on rumours. Investing depending on rumors is a lot of gambling.
But one thing that can be done is to verify the rumors that they are true or not and the primary way is to go and check the official statement, you can follow the statements of those authors. But interesting is think my eyes haven't caught up any official statement so I don't think Saudi Arabia will buy 1 million bitcoins because one million bitcoins is a huge amount considering the current bitcoin circulating supply of 19.61 million is above 5%.

If the rumors can come true this year, of course a more significant price increase could occur for Bitcoin. Because considering the crypto market at the moment it is not so bad to get a price increase as long as big investors continue to make such purchases on Bitcoin and other cryptocurrencies.

I see that the price of Bitcoin today is not very stable because after returning to $40K, it still fell below that level in a very short time. So just hope that the rumors can come true even though there is another possibility that the rumors were deliberately created so that they could move the hearts of other investors to enter the market before a bigger increase occurs.

I say it is just a rumor. there is no reality in that. because Investing $500 bilions is simply not doable. Saudi Arab's whole GDP is $800 billion. so there is no way they could invest $500 Billion in Bitcoin.. if you said a small amount than that would've been still believable.
Besides buying that much of BTC together will mostly break the whole market. it could be chaotic for entire crypto market if that much money inflaw into it.
So don't worry this rumor will not become reality. Maximum they can invest is $1 billion in Bitcoin which will be a very positive thing for market.

Yep I agree, the total of their wealth fund is 776 billions.

#The Public Investment Fund (PIF; Arabic: صندوق الاستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of US$776 billion (£538 billion) #

https://en.wikipedia.org/wiki/Public_Investment_Fund