Topic: Middle East Richest Business Man, Won't Invest In Bitcoin (Read 1321 times)

He will change his mind once he felt bitcoin is taking over the financial system. He might be a good businessman but I bet he's not great when it comes to innovations.

people have different perspective about bitcoin. me at first I do not believe in bitcoin and I thought this is just like scam or something like networking but no.
after my friend explain me the basics of bitcoin earning and I began to research my mind enlightened and I began to accept bitcoin...

maybe if one person will introduce him and if he began to earn profit maybe he can accept bitcoin too.

Whether or not he chooses to invest, bitcoin's price is surging by the day. And the time will come when hebwould wish he had done so.
This centralized thing he talked about... He's wants to continue to command the flow of money as many governments do. Even governments are embracing bitcoin because they realise its potentials.

It doesn't matter if he invests in bitcoin or not. There's a world of miners & traders out there, even in Saudi Arabia. One questions though: Has he banned bitcoin,  or all cryptocurrencies? 

If he's banned all cryptos, then he's setting the country back by a few decades at least. The future is cryptocurrency, as we all know. Projects like nucleus.vision and universa.io are going to take off in a huge way and supplant the existing economic order with crypto- and blockchain-driven technologies. If Saudi Arabia doesn't subscribe to it, they will soon be a microcosm in a world that has already moved on to the next big thing.

That prince is already wealthy even before he was conceived by his mother.  They are not interested to bitcoins because maybe they are too busy handling and thinking about their oil business and other things.  As to what he said that it does not make sense, I respected it since he do not know any thing about bitcoin.  For me and to all of us here who uses bitcoin, earns bitcoin, bitcoin makes sense to us.  It gives us the life we want as of now because this is the only online and digital currency which gives us hope to earn more money.

If this prince of Saudi Arabia is not going to invest in bitcoin, this is his own business. However, he can not say this on behalf of all the rich people of the planet. Such rich people, who get billions without much effort, or even inheritance, do not like it if they can not control any processes. Therefore, they do not like the freedom of bitcoin for everyone, they do not need it. They have a completely different life, which is absolutely different from the majority of the world's population.

Every person has his own point of view, we cannot change his point of view but we can educate them and guide them. But everyone wants to invest in bitcoin they are not concerned with the fact that either bitcoin is supervised or not they are only concerned with the profit they are getting from bitcoin, they want to be financially stable.

In some countries the bitcoin is illegal but they are not providing their mass chances to be rich in short time, so this also don't make any sense

We are not aware of the truth but for me the bitcoin is true and this will increase the value and the price of the bitcoin at the same time I hope the bitcoin is increasing in the value and the income so that you will see how fast the bitcoin is going to have the future. So if the person is the rich he must be rich for sure. I can proudly say I am the bitcoin user and I am going to earn the high income with the bitcoin by staying in the bitcoin.

Agreed. He doesn't want to invest in bitcoin. And? Is that the rest of the story? The world is not going to end. The bitcoin community is not going to suffer just because he didn't want to invest in bitcoin. My neighbor didn't want to invest in bitcoin, did I have any sleepless night? Not at all. It's because I know truly that bitcoin is for the people that's been looking for a way to earn some money on the Internet. That man is already the richest man, so why would he even need to risk his money and invest in something that he doesn't fully understand. He can just continue doing what he's doing that made him the richest business man of the Middle East. So it's not entirely bitcoin but rather his position in the economic race. He's at the top so why even diverse his investments especially to a speculative asset. I would do the same thing as him. I will just go all in with the current business that I have.

I mainly believe that relevant people posting things like that or having some "statement" about bitcoin is just low-key spreading FUD so the process of bitcoin going mainstream will be prolonged. I mean, they don't have to announce that at all or make that public but they did. It makes you wonder, right? I bet it's because they are close to the government and they don't want something so revolutionary to take over or at least not in their term.

Does his opinion really matter?  or does it encourage rest of the world to hold on investing in bitcoin?

I've heard about this news also, the way he make the statement, we can tell that he don't understand the system of blockchain. Oil have been one of the good reserves for about a couple of decades, but this time it's on the brink of falling (because we are turning into renewable) why I am saying this (because the government of Saudi) makes a lot of money in oil . They are controlling supply and implemeting rules about that, but sooner about 100 years, oil won't be a good reserve anymore and their economy will fall.

Because of that " princely manner " of controlling thinks and regulating people, they can't accept the fact that we have now a technology that bypasses their control.
And I think these leaders (because they are representing their country) must do a proper research instead of just complaining that this thing " doesn't make any sense".

yeah considering bitcoin are a financial technology , and old mans don't care much about it as they think it's too complicated to understand. then no wonder both warren buffet and alwaleed make a hurt statement like that . big money won't make a big risk move , they would always looking for a secure investment , that's reasonable enough isn't it?

He may affect their country's economy but he's not attached to bitcoin so there's no effect on whatever he'll do. His statements might give some small effect if he will spread the same FUD as what Jamie Dimon did but for long time bitcoin users and traders, we will no longer buy on that thing.

The Time magazine compared him to Mr. Warren Buffet of Saudi. The same as Mr. Buffet he is not fond of bitcoin, Mr. Alwaleed is very rich person they have a different view about future investment, they are the old school type of investor. Mr. Alwaleed is a visionary investor, but he can't envision the corruption charges that are being served to him.

Agree, being a part of governance, you can't really support Bitcoin as a currency. This will also motivate citizens to adopt BTC as currency, which obviously any govt. did not want to happen.

Couldn't blame him. He is in a country where the government prohibits the use of bitcoin. And more importantly, he is a royalty and is obviously part of that government. So it's just right for him to say those things about btc. You cannot create a law that you will openly oppose because that will be nonsense.

yep, its thoughtis clear.
He can't control or he doesn't have enough and the only thing he can do is forbid it or talk bad about it.

Amen, btc will prevail!

Since the dawn of men...

There was always the talk about rich and extremely rich guys investing in bitcoins.
Probably in hundred of threads, like this one:
https://bitcointalksearch.org/topic/mark-zuckerberg-investing-100-million-in-bitcoin-884297
People where expressing their desire that some guy, mostly Bill Gates or Suckerberg(I hate this one) or Warren Buffett would invest a fee millions in bitcoin.

Especially in the 2013 and 2014 dips that was the easiest way to get rich, convince them to make you rich.
Some guy comes along, buys 100 000 bitcoins , the price rockets to 5000 and we're all loaded.

And about the market cap, that irrelevant.
One push of 1 billion would drive the price to probably well over 10k and the market cap close to 200 billions.
What if you would invest 20?....Let's dream...

They don't get it. It means we're still on early adopter phase.