UAE Rumored to Hold $40 Billion in Bitcoin
There are rumors in the cryptocurrency space that the United Arab Emirates (UAE) reportedly holds over $40 billion worth of Bitcoin.
The rumors intensified after Binance founder and former CEO Changpeng Zhao posted a cryptic tweet.
Rumors of UAE Bitcoin wealth highlight national accumulation trend
On December 22, Zhao Quote An unconfirmed report suggests that the UAE has stockpiled around $40 billion in top cryptocurrencies.
If true, crypto analyst Trader T said this would mean the Middle Eastern country holds 411,978 BTC and could join the top three Bitcoin Global holders and the most important national government holders.
The news sparked heated discussions and varying degrees of skepticism within the crypto community. Despite the buzz, this information remains unconfirmed and is only based on speculative sources.
“The claim that the UAE spent $40 billion buying Bitcoin is true. From all public information, this has not been confirmed. It was just a rumor that started in 𝕏 and is now considered fact,” Bitcoin Archives wrote.
The concept of nation-states, especially in wealthy Middle Eastern countries, Store Bitcoin This is not new. Last month, some rumors suggested that regional powers such as Saudi Arabia and Qatar might also increase their Bitcoin reserves as the value of the digital asset soared towards the $90,000 mark.
However, as of press time, these rumors have not been confirmed. Still, market watchers say the recurring stories underscore the growing number of countries seriously considering and potentially Adopt a Bitcoin Accumulation Strategy.
In fact, the market is already seeing concrete examples of this trend, particularly in El Salvador. nearest country Increased Bitcoin investment, Purchase an additional 11 units of the flagship cryptocurrency. According to official data, its total holdings reached 5,993.77 BTC, worth approximately $575 million.
Despite this previous move Agreement with the International Monetary Fund (IMF) Reversal of such policies. However, The Salvadoran authorities have further progress made Increase their Bitcoin inventory. For context, Max Keizer, a senior advisor to the president of El Salvador, revealed plans to further increase the country’s Bitcoin reserves by 20,000 BTC.
“El Salvador is moving to peaceful Bitcoin standards. (El Salvador’s) interim goal is to acquire another 20,000 BTC,” Keizer point out.
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