Saudi Central Bank Gains Indirect Bitcoin Exposure via Strategy
The post Saudi Central Bank Gains Indirect Bitcoin Exposure via Strategy appeared on BitcoinEthereumNews.com.
Saudi Central Bank now holds 25,656 shares in strategy. Saudi Arabia seems to be exploring another approach to balance the stability. The Saudi Central Bank has recently unveiled an investment in a Strategy, an American development company. After the investment, the bank got its first indirect exposure to Bitcoin. The bank made a filing on May 16 with the US Securities and Exchange Commission in which it mentions that it now holds 25,656 shares in strategy. Talking about Strategy, it was previously known as MicroStrategy and it is the world’s largest corporate Bitcoin holder, currently holding 568,840 Bitcoins valued at around 60 billion dollars. Before this, the central banks have always been in favour of gold and US dollars as reserve assets. However, at the time of the global shift towards innovation, Saudi Arabia seems to be exploring another approach to balance the stability with the upside potential of digital assets. As per the data from Bitcoin treasury, more than a dozen countries, such as El Salvador, Ukraine, Bhutan, the US, and now Saudi Arabia, have sought Bitcoin exposure through central holdings. Also, a significant search in crypto adoption in the Middle East, mainly within Saudi Arabia, has been witnessed. Research from Bitget reveals that the specific region crossed 5 lakh average daily crypto traders in February last year. No Regulatory System Despite Activity Surge Saudi Arabia has around 129,397 daily crypto users, and at the same time UAE has 106,111. The Chainalysis 2024 MENA report mentioned that Saudi Arabia is expanding faster compared to any other region, hitting 154% annual growth for the second year. Saudi Arabia does not have a complete regulatory system for cryptocurrency operations, and no domestic exchange operates under regulatory oversight. Regardless of the growing market activity and adoption, there has been no discussion for…
Filed under: News - @ May 17, 2025 11:26 am