The two governments are rumored to be sizing up by buying around one million BTC.
bitcoin The Qatari government was reportedly preparing a $500 billion investment in Bitcoin.
Analyst Justin Verrengia said the Saudi and Qatar governments’ rumored investment into Bitcoin will be announced next week.
In a recent video, Justin Verrengia, the host of the popular cryptocurrency channel CryptoNewsAlert, said the Saudi Arabian and Qatari governments are sizing up a huge Bitcoin investment, which could be announced next week.
The analyst stated that the two governments may be looking to acquire around one million BTC using their sovereign weight funds. In comparison, the wallet address of Satoshi Nakamoto, Bitcoin’s anonymous creator, holds around 1.1 million Bitcoins.
The rumored buys, which have since gone mainstream, came after noted Bitcoin maximalist Max Keiser raised the speculation. According to a tweet by Keiser referenced in the video, the investment in Bitcoin from the two countries will dwarf previous investments from giants such as BlackRock and MicroStrategy.
As noted in the video, the shift to the flagship cryptocurrency asset came after a Saudi cle…
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