Is Qatar Set to Become the First Middle Eastern Country to Hold Bitcoin Reserves? – Speculation has arisen regarding whether Qatar could become the first Middle Eastern country to hold Bitcoin reserves, fueled by the sighting of Bitcoin discussions on the private jet of the Emir of Qatar during the Bitcoin Atlantis Conference.

The rumors suggesting Qatar’s potential Bitcoin reserves are centered around a post by Anthony Scaramucci, the founder of Skybridge Capital. Scaramucci made a prediction about Qatar’s potential Bitcoin investment, attempting to reinforce his claim with statements from Bitcoin advocate Max Keiser.

Max Keiser is known for his consultancy with Nayib Bukele, the president of El Salvador, the first country to recognize Bitcoin as legal tender. The rumors about Qatar’s Bitcoin investment date back a few months. Last September, Emir of Qatar Tamim Bin Hamad visited El Salvador, where discussions about Bitcoin investments were allegedly held. Keiser highlighting this meeting, followed by the Emir’s presence at the Bitcoin Atlantis Conference in Madeira, has significantly strengthened expectations that Qatar may invest in Bitcoin.

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On the other hand, there has been no official statement from Qatari officials regarding Bitcoin investment. However, Scaramucci mentioned in his post that Keiser, who has a good relationship with Bukele, had suggested that Bitcoin might have been added to Qatar’s treasury. Additionally, rumors have included Saudi Arabia, suggesting that both countries might make significant purchases, possibly around 1 million BTC.

Why is this important? If wealthy Middle Eastern countries with significant oil reserves decide to allocate a portion of their income to Bitcoin, it could serve as a secondary catalyst for a rise in Bitcoin prices, following the introduction of spot Bitcoin ETFs. As mentioned, a considerable increase in purchases could inevitably lead to a significant price surge. It is crucial to note, however, that these statements are currently speculative.

In addition, the Bitcoin Atlantis Conference on the autonomous island of Madeira in the Atlantic Ocean, which is part of Portugal, featured MicroStrategy’s Chairman of the Board Michael Saylor as the opening speaker. Jack Dorsey was also among the speakers, and the conference took place from March 1 to March 3.

source: / prepared by Melisa Beğiç

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