Saudi Arabia 1M BTC BUY !! - page 2.

darkangel11

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Quote from: The Cryptovator on January 24, 2024, 03:50:26 PM

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.

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.

Bitstar_coin

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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.

OgNasty

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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.

The Cryptovator

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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.

kentrolla

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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.

electronicash

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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.

JayTrain

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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 Wink

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

coolcoinz

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Quote from: ajiz138 on January 24, 2024, 01:12:10 PM

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.

ajiz138

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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.

m2017

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Quote from: humanvelocity on January 22, 2024, 04:46:45 PM

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?

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".

Lucius

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Quote from: avikz on January 23, 2024, 12:42:57 AM

~snip~
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.

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?

Derivatives888

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Quote from: humanvelocity on January 22, 2024, 04:46:45 PM

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?

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.

yudi09

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Quote from: humanvelocity on January 22, 2024, 04:46:45 PM

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?

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.

348Judah

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Quote from: humanvelocity on January 22, 2024, 04:46:45 PM

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?

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

blckhawk

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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.

synchronym

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Quote from: SATWAT on January 22, 2024, 06:55:57 PM

Quote from: kawetsriyanto on January 22, 2024, 05:50:35 PM

Quote from: humanvelocity on January 22, 2024, 04:46:45 PM

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.

Quote from: humanvelocity on January 22, 2024, 04:46:45 PM

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

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.

BabyBandit

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Quote from: kawetsriyanto on January 22, 2024, 05:50:35 PM

Quote from: humanvelocity on January 22, 2024, 04:46:45 PM

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 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?

radjie

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Quote from: humanvelocity on January 22, 2024, 04:46:45 PM

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 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

Pikachi42

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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.

bobbybkk

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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 ..

Topic: Saudi Arabia 1M BTC BUY !! - page 2. (Read 541 times)