Quote from: humanvelocity on January 22, 2024, 08:46:45 PM

There is a rumour going on about an potential $500 billion investment into BTC by the Saudi governments, As we know today BTC just dropped below $40k. I am having a very strong feeling that this would be the perfect time to invest, What are your thoughts about this and price predictions for next week if the this "rumour" becomes a reality?

Even though this is just a rumor, this rumor will strengthen the community and will attract the interest of speculators who want to take advantage of the moment which will then have an impact on strengthening the price of bitcoin. I don't have any price predictions here, but clearly, if this rumor turns out to be true, we will not only see $500,000,000,000 of money flowing into bitcoin, but much more than that.

Quote from: kawetsriyanto on January 22, 2024, 09:50:35 PM

Also, I'm not really sure about the status of bitcoin in Saudi. As far as I know, Saudi Arabia is a grey area of bitcoin, the status isn't really clear enough.

Bitcoin is legal there, it's just that the government does not guarantee any security for adopters in their country, because bitcoin is considered high risk. This rumor is related to the government of Qatar - Saudi Arabia, this is a good sign because if the rumor is true, we will see a better status for bitcoin there of course.

Quote from: Pokapoka124 on January 22, 2024, 10:38:19 PM

I haven’t heard any rumour of this happening. It would help if you added a links to articles where it was published.

Coinmarketcap: https://coinmarketcap.com/community/articles/65aec35fc28cdc3e9dc2e561/

Quote from: Pokapoka124 on January 22, 2024, 10:38:19 PM

The only challenge I can think of is their religious belief, I read somewhere that it’s frowned upon for a Muslim to own Bitcoin.

It is not completely true or not 100% legal that a Muslim cannot own bitcoin, it is still a matter of debate among religious leaders.