Qatar sovereign fund may buy $500 billion in Bitcoin
Rumors have resurfaced in recent days about the Qatar Investment Authority (QIA) investing heavily in Bitcoin. Bitcoin extremists like Max Keiser have spread rumors that QIA will buy $500 billion worth of Bitcoin. QIA has not directly responded to its investment actions, but reiterated its focus on blockchain technology rather than direct investment in cryptocurrencies. Talal Tabbaa, CEO of CoinMENA, the first regional cryptocurrency exchange to enter the Qatari market, said that even sovereign states may consider Bitcoin as a feasible component of their financial strategy. BlackRock has acquired over 200,000 Bitcoins in the past six weeks, so it is completely normal for any government to consider allocating a large amount of funds to Bitcoin. The initial rumor of a $500 billion investment amount is higher than the $475 billion assets under management (AUM) reported by QIA's institutions, so the investment size is unlikely to be as large as rumored.
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