Bitcoin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/speculation-on-qatar-investment-authoritys-bitcoin-purchase-deemed-unlikely/" data-wpel-link="internal">Speculation on Qatar Investment Authority’s Bitcoin Purchase Deemed Unlikely</a> 
A local finance manager stated that the likelihood of the Qatar <a href="https://en.coin-turk.com/what-is-ico-initial-coin-offering/" data-wpel-link="internal">Investment</a> Authority (QIA) making a significant <a href="https://coin-turk.com/unlu-ceo-bitcoin-btc-altindan-100-kat-daha-iyi" data-wpel-link="internal">Bitcoin</a> purchase, as rumored, is low. Speculation spread in recent weeks by <a href="https://en.coin-turk.com/bitcoin-could-collapse-by-46-if-the-us-economy-enters-a-recession-warns-crypto-analyst/" data-wpel-link="internal">Bitcoin</a> enthusiasts through X suggests that Qatar’s sovereign wealth fund might soon add $500 billion worth of Bitcoin to its portfolio. 
<h2 class="p1" style="text-align: justify" id="intriguing-claim-regarding-qatar">Intriguing Claim Regarding Qatar</h2> 
According to finance manager Shadi Qishta, since crypto assets are not part of QIA’s strategy, the likelihood of such capital flowing into cryptocurrency is low. Qishta commented on the matter: 
<blockquote> 
 “I don’t think it will happen anytime soon in any form because QIA has a very diverse investment strategy and is accelerating its investments across various asset classes, sectors, and geographies to reduce risk and capture opportunities in different markets and sectors.” 
</blockquote> 
QIA is a state-owned wealth fund, meaning it is a government-backed investment fund. QIA’s investment strategy requires approval from the Board of Directors and the Supreme Council for Economic Affairs and Investment (SCEAI); this means any revision in portfolio distribution has to pass through both bodies. 
Additionally, at the opening ceremony of the Qatar Web Summit in February, there was no mention of cryptocurrencies. Qishta, stating that there was no explicit mention of cryptocurrency investments, added that Abu Dhabi announced $100 billion in technology innovation and artificial intelligence investments without including crypto assets. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-78892 size-full" src="https://coin-turk.com/wp-content/uploads/2020/01/katar-kripto-para-islemlerini-yasakladi-mi.jpg" alt="" width="740" height="415"> 
<h2 class="p1" style="text-align: justify" id="qatar-and-the-crypto-market">Qatar and the Crypto Market</h2> 
Qatar, largely due to its vast natural gas and petroleum reserves, is among the world’s wealthiest countries. The International Monetary Fund (IMF) expects the country’s total economic output to grow by nearly 2% annually by 2025. 
However, the country’s approach to cryptocurrencies continues to be restrictive. According to Qishta, the local environment for crypto assets is still characterized by cautious regulatory oversight, and since crypto trading was banned in 2018, public adoption remains limited. Qishta made the following remark on the subject: 
<blockquote> 
 “Despite the global popularity of cryptocurrencies, adoption in Qatar is relatively low among the general public. Contributing factors include regulatory uncertainty, cultural norms, and a preference for traditional banking and investment methods over those in Dubai.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/speculation-on-qatar-investment-authoritys-bitcoin-purchase-deemed-unlikely/" data-wpel-link="internal">Speculation on Qatar Investment Authority’s Bitcoin Purchase Deemed Unlikely</a></h5>

Speculation on Qatar Investment Authority’s Bitcoin Purchase Deemed Unlikely

Table of Contents

COINTURK NEWS

Other articles published on Mar 15, 2024

Turkey Prepares to Introduce Balanced Crypto Regulation

CryptoQuant: US government holds 210k Bitcoins with $14.4b unrealized profit

XRP Price Experiences a Dip: What’s Next?

Solana Investors Rush to Join Pushd (PUSHD) New E-Commerce Presale Amid (BTC) New All-Time High: ...

Bitcoin’s sudden 7% retreat sees $660M in liquidations in 1 day

All aboard as Indian Railways rolls out NFT train tickets

Join our free newsletter for daily crypto updates!