Market news: Gulf oil-producing countries such as Saudi Arabia and the UAE may have entered the Bitcoin market

2024-11-14 16:38:25

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ChainCatcher news reports that, according to Protos, the price of Bitcoin has previously surpassed $93,000, setting a new historical high. Market news indicates that Gulf oil-producing countries such as Saudi Arabia, the UAE, or Qatar may be purchasing Bitcoin at the sovereign level. Relevant sovereign funds may disclose related information during the Abu Dhabi Bitcoin Summit from December 9 to 10.

As Bitcoin's total market capitalization has surpassed that of the world's largest oil company, Saudi Aramco, Saudi Arabia, as the largest oil producer in the Gulf region, is receiving significant attention. As the holder of the world's largest sovereign wealth fund, the investment trends of Gulf oil-producing countries will have a substantial impact on the global crypto asset market.

At the same time, as the host of the upcoming Bitcoin conference, the UAE is also considered likely to participate. Additionally, there have been ongoing market rumors that Qatar may also engage in sovereign investments.

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