Currently, Qatar, UAE, and Saudi Arabia along with BlackRock and Japan’s SBI Groups are soon going to bring some solutions for Bitcoin payments which will be no less than Bitcoin halving and Bitcoin ETFs for Bitcoin. Because recently I came to know that Qatar will remit it $500B USD to US and European Cryptocurrency companies like BlackRock and Deutsche Bank Asset Management. And among all, Saudi Arabia, and UAE are also expected to take Bitcoin holdings along with Oman and Qatar so that in the future they can use Bitcoin Payments instead of USD. Oman has the same number because Oman has $500b USD worth of Blockchain Infrastructure and a Bitcoin Mining Facility which will be sold in the future to countries like UAE, Saudi Arabia Qatar, and Qatar. Also, $500B USD means a lot for US banks and European Asset Managers to strengthen the Digital Economy relationship with Qatar in the future. Because now every country in the Middle East wants to take its country forward but every country wants to work on Digital and Virtualization.
Why Saudi Arabia, Qatar, and UAE will pump Bitcoin price to $250K Before the Bitcoin ETFs are approved by the SEC?
These investments by Qatar can also attract other Arab countries because UAE and Saudi Arabia now want to keep their reserves in Chinese Yuan instead of USD. So in such a situation, their plan can be Bitcoin and Cryptocurrencies because she can also play a lot of imported roles for finance, for instance, forex. Similarly, the stock market of UAE, Saudi, and Qatar is quite strong but now if Bitcoin is accepted everywhere, people of Qatar whose income is a minimum $100K can also invest up to 75% of their income in Bitcoin. Anyway, if Bitcoin ETFs are found then there may be competition for Bitcoin buying in Europe and before that in the Middle East. Anyway, Qatar, Saudi Arabia, and UAE are very important financiers in the world who can invest billions and trillions of USD in crypto in the future. Recently UAE and Saudi Arabia are increasing their foreign reserves in Chinese Yuan so that they do not suffer much loss due to the fall of that and European stocks. So, we can also say that the maximum number of digital transactions take place in countries like UAE, Saudi, and Qatar. So, we can also say that more and more transactions can be done in Crypto because of their use of Digital and Virtual payments Have experience. So we can also assume that if Bitcoin rises again to $100k then the Bitcoin buying rate in the Middle East may increase due to Bitcoin ETFs and Bitcoin Halving.