Rumours are creeping in the crypto sphere that the governments of Saudi Arabia and Qatar might make a big dip into the Bitcoin market.
In a recent video, Analyst Justin Verrengia who is known for being the host of the popular crypto channel CryptoNewsAlert said that two Gulf nations are considering a very large investment into Bitcoin possibly announced next week.
Verrengia hints that the governments might be targeting a whopping one million BTC, using their sovereign wealth funds to procure it as digital gold. To compare, that is approximately equivalent to what the mysterious Satoshi Nakamoto who created Bitcoin holds.
These rumours circulated after Bitcoin maximalist Max Keiser sparked them. In a tweet cited by Verrengia, Keiser appeared to be hinting at an investment that would make giants like BlackRock and MicroStrategy pale in comparison.
If these stories prove to be accurate, the crypto space may undergo a tectonic shift. A joint Saudi-Qatari Bitcoin whale would make huge waves, reaching far into financial circles around the world. For crypto enthusiasts, hold tight because next week may be a historic one.
