Quote from: MFahad on Today at 06:43:24 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, 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?

I say it is just a rumor. there is no reality in that. because Investing $500 bilions is simply not doable. Saudi Arab's whole GDP is $800 billion. so there is no way they could invest $500 Billion in Bitcoin.. if you said a small amount than that would've been still believable.
Besides buying that much of BTC together will mostly break the whole market. it could be chaotic for entire crypto market if that much money inflaw into it.
So don't worry this rumor will not become reality. Maximum they can invest is $1 billion in Bitcoin which will be a very positive thing for market.

Yep I agree, the total of their wealth fund is 776 billions.

#The Public Investment Fund (PIF; Arabic: صندوق الاستثمارات العامة) is the sovereign wealth fund of Saudi Arabia. It is among the largest sovereign wealth funds in the world with total estimated assets of US$776 billion (£538 billion) #

https://en.wikipedia.org/wiki/Public_Investment_Fund