Qatar sovereign fund to buy $500 billion in Bitcoin? This might be a rumor, but it also reveals underlying momentum
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Qatar sovereign fund to buy $500 billion in Bitcoin? This might be a rumor, but it also reveals underlying momentum
The real bull market may rely not only on the United States but also on the Middle East.
Navigating Web3 tides with focused insightsBy TechFlow
Wake up and Bitcoin is already at $44,000—shorts are stunned.
Whenever Bitcoin rises, boring media outlets always resort to stating the obvious or offering useless hindsight. But this time, the price surge might actually have been influenced by a rumor.
Max Keiser, a well-known maximalist and staunch Bitcoin believer, claimed on X that "there are rumors the Qatar Sovereign Wealth Fund has entered the Bitcoin market and may be planning to buy up to $500 billion worth of Bitcoin." According to him, BTC is now facing intense competition from "Qatar’s sovereign wealth fund and other Middle Eastern investors."
Keiser strongly believes massive investments from Middle Eastern sovereign funds could push Bitcoin's price to $100,000.
The comment sparked immediate reactions, with several X Spaces discussions quickly emerging around the topic.
However, the "rumor" was quickly challenged by more rational voices. After all, the Qatar Investment Authority disclosed assets of $475 billion in 2023, mostly invested in real estate and equities. Even Luke Broyles, another Bitcoin advocate, criticized Keiser’s claim.
For now, Max Keiser’s statement may simply be an exaggeration—or what some call “pumping.” Yet it touches on a core narrative for Bitcoin’s future growth.
In the previous cycle, Bitcoin gained traction through corporate adoption and El Salvador’s decision to make it legal tender. This cycle demands new breakthroughs—and thus new narratives.
Bitcoin ETFs are leading the charge—but what comes next?
Perhaps it’s recognition and holdings by wealthy national sovereign funds—or even central banks. Among all regions, the Middle East stands out for its relatively open and friendly stance toward crypto, coupled with vast financial resources, making it the ideal "financial backer" in many people’s eyes.
As of 2022, Middle Eastern sovereign wealth funds collectively managed $3.64 trillion in assets. With only $76 billion worth of BTC currently available on exchanges, a small move by these wealthy players could significantly shake the market.
It’s not just about Bitcoin. This year, traditional tech investors, U.S. dollar funds, and clean energy firms in China have been flocking to Dubai, Qatar, and other Gulf nations in search of capital.
The real bull market may depend not only on the U.S., but also on the Middle East.
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