Russia, Saudi Arabia and Iran to start doing deals in Bitcoin, this is a statement made on X by no other than Max Keiser, the well-known Bitcoin influencer and the host of Keiser report, who is as well senior Bitcoin advisor to Nayib Bukele, the President of El Salvador.
As per Keiser’s statement, on X, “Russia, KSA, Iran will start doing deals in Bitcoin. Qatar knows this and is pulling the trigger on a huge BTC buy for their SWF (Sovereign Wealth Fund).”
This comes just days after Keiser stated that the Qatar sovereign Fund would be buying $500 billion of Bitcoin. Keiser had stated on X, “I have 1 word for you $100,000 Bitcoin God Candle fans. QATAR, the rumors are getting very loud on this. Their SWF (Sovereign Wealth Fund) rumored to looking to buy 1/2 trillion BTC (Bitcoin).”
Months prior to this Qatar was touted as discussing Bitcoin mining during the visit of HH Prince Sheikh Tamim bin Hamad Al-Thani of Qatar to El Salvador but nothing materialized on that front yet.
Keiser is a longtime Bitcoin advocate and educator, having advised people to buy Bitcoin since the price was $1.
With his statements Keiser seems to imply that the top GCC countries, Iran, and Russia plans to break away from the U.S. dollar and gravitate towards Bitcoin for trade.
Some would say that given that the Qatar Investment Authority founded in 2005 in October 2023, had an estimated $475 billion of assets under management would they use all that to buy Bitcoin? Qatar has not even legalized the trade of cryptocurrencies and neither has Saudi Arabia, Iran, or Russia.
In January 2023, Qatar Investment Authority CEO Mansoor Ebrahim Al-Mahmoud told Bloomberg that they would be interested in the credit space, and AI (Artificial Intelligence) as a theme of investments. In 2022 the CEO of Qatar Sovereign Wealth Fund showed interest in investing in Blockchain but shunned crypto.
Could the strained relationships with the United States be pushing forward this movement towards de-dollarization in the form of utilization of Bitcoin?
Another interesting analysis could be that Qatar is actually interested in Bitcoin mining in El Salvador. El Salvador was noted as entering a public private partnership worth $1billion to create the world’s largest Bitcoin mining farm. Volcano Energy has developed the first mining pool in El Salvador with Luxor Technology.
This according to Volcano Energy is a $1 billion Bitcoin mining project set to transform El Salvador through the development and operation of renewable energy plants. Could Qatar one of the most experienced and highly invested renewable energy country be interested in this project? Maybe just maybe yes!