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?
It will not become a reality, and one should not invest based on rumors and FOMO. It's worth noting that there are no confirmations or reliable sources that have verified the claims regarding Saudi Arabia and the wealthy oil-rich Gulf countries. A Bitcoin enthusiast on X mentioned this rumor as speculation and has quickly spread on social media and news blogs. Now, Several YouTubers have capitalized on this rumor to create videos and generate views.. It is not logical for Saudi Arabia and Qatar to invest $500 billion in Bitcoin, which would constitute approximately 5% of the total circulating supply of Bitcoin, surpassing Wall Street and many other reasons mentioned here. The goal of these people who help spread rumors is to influence the price of Bitcoin through beginners who may believe and invest based on the information presented to them, and the other goal of spreading such rumors is to achieve fame and money.