An article published on Cointelegraph dismisses rumors of a significant Bitcoin purchase by the Qatar Investment Authority (QIA). According to a local financial executive, the speculation is unlikely to come to fruition as digital assets are not part of QIA’s investment strategy. QIA is a state-owned investment fund that requires approval from its Board and the Supreme Council for Economic Affairs and Investment for any portfolio allocation changes. QIA’s CEO, Mansoor bin Ebrahim Al-Mahmoud, has previously stated that the fund’s interest lies in exploring opportunities in blockchain technology rather than in cryptocurrencies themselves. There have been no explicit mentions of cryptocurrency investments during Qatar’s Economic Forum or the Qatar Web Summit’s opening ceremony. Despite being one of the world’s wealthiest nations, Qatar’s approach to cryptocurrencies remains restricted due to cautious regulatory oversight and limited public adoption. Factors contributing to this include regulatory uncertainty, cultural norms, and a preference for traditional banking and investment methods.
Qatar's Half-a-Trillion-Dollar Bitcoin Investment Appears Improbable