Quote from: SATWAT on January 22, 2024, 10:55:57 PM

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

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,

Where do you know this rumor? Do you read the rumor on crypto news channel?
Since it is just a rumor, it is difficult to trust the news. Saudi Government isn't like El Salvador, they have enough money and they are not urgent to invest their money into Bitcoin. It is very different with El Salvador who invest in Bitcoin because they want to improve their financial level. 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.

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

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,

You don't need to use your feeling. Everyone must understand that it is the right time to invest their money before the Bitcoin halving. If we look the history, Bitcoin should begin to increase massively after the Bitcoin halving.

I was also not sure about this all but after having some search and looking things around about this all now I was also having this update as Saudi Arab is having bitcoin as legal tender and peoples can buy and sell this without any problem so look like things are taking good change about this, and we can expect some good movement for the bitcoin as well if things like these are going to happen as announces.

UAE was doing good work about crypto related technology and now after their some success we are having more Gulf region countries which are preparing to have their share in this market as well which will create good competition and better results for the investors as well.

https://coinedition.com/saudi-arabia-qatar-rumored-1m-btc-buy-could-come-next-week-analyst/

https://cointelegraph.com/tags/saudi-arabia

op I agree with you it's really good news if the Saudi government and UAE make such announcements or decisions about Bitcoin investment, it's definitely very positive for Bitcoin. Of course we can expect more competition in Bitcoin investment. The current Bitcoin market has reached $39k, so many of us who can't afford to buy Bitcoin when it's high can buy it if they want to. Because now that Bitcoin has reached $39k we can buy and hold it now if we want to sell it as the price goes up and we can make a lot of profit.