Saudi Arabia 1M BTC BUY !!

[humanvelocity]

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?

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[btc78]

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

[Churchillvv]

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).

[kawetsriyanto]

There is a rumour going on about an potential $500 billion investment into BTC by the Saudi governments,

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.

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,

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.

[GeorgeJohn]

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?

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

[Pokapoka124]

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. 

[SATWAT]

There is a rumour going on about an potential $500 billion investment into BTC by the Saudi governments,

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.

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,

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.

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

[Patikno]

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?

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.

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.

Bitcoin is legal there, 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.

I haven’t heard any rumour of this happening. It would help if you added a links to articles where it was published.

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

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. 

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.

[Catenaccio]

There is a rumour going on about an potential $500 billion investment into BTC by the Saudi governments

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.

Bitcoin is legal there, 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.

There are legality maps over nations and you can get them in Some world maps for Bitcoiners.

Middle East nations are very friendly with Bitcoin and cryptocurrencies.

[Fundamentals Of]

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.

[rodskee]

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?

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.

[BALIK]

There is a rumour going on about an potential $500 billion investment into BTC by the Saudi governments

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.

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.

[NicNacCoin]

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 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.

[wxa7115]

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.

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.

[naira]

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?

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.

[avikz]

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?

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.

[EFS]

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.

[kro55]

There is a rumour going on about an potential $500 billion investment into BTC by the Saudi governments,

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.

[franky1]

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?

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

Saudi Arabia has plans to build a twin version of its futuristic, $500-billion desert city Neom in a metaverse offering, but it’s unclear whether it will utilize blockchain or crypto.

[Kakmakr]

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.