Loading...
Market
What is the primary motivation for Saudi's Bitcoin Strategic Reserve by end of 2024?
2
Resolution / Starting Odds
Diversification of reserves • 25%
Hedge against oil volatility • 25%
Attracting tech investments • 25%
Other • 25%
Official statements from Saudi government or Saudi Aramco and analysis by major financial news outlets
Story
Saudi Arabia and Saudi Aramco to Build Bitcoin Strategic Reserve, Positioning Cryptocurrency as 'New Oil'
Nov 13, 2024, 04:31 PM
Saudi Arabia has announced plans to establish a Bitcoin Strategic Reserve, signaling a significant shift in its approach to cryptocurrency. This initiative aligns with a broader narrative that positions Bitcoin as a valuable asset akin to oil. Observers have noted a trend of comparing Bitcoin to oil, with statements from various commentators emphasizing that Bitcoin is the 'new oil' and a digital alternative to traditional energy resources. The involvement of Saudi Aramco, the state-owned oil giant, in this emerging Bitcoin market further underscores the potential for cryptocurrency to play a central role in the kingdom's economic strategy.
View original story
Similar markets
Strengthen US Dollar • 25%
Hedge against inflation • 25%
Increase global financial influence • 25%
Other • 25%
Diversification of assets • 25%
Inflation hedge • 25%
Speculative investment • 25%
Other • 25%
Hedge against inflation • 25%
Strengthen digital currency position • 25%
Diversification of reserves • 25%
Other strategic reasons • 25%
Reduce national debt • 25%
Strengthen US dollar • 25%
Economic leverage • 25%
Other • 25%
Economic stability • 25%
Technological advancement • 25%
Financial independence • 25%
Other • 25%
Financial security • 25%
Crypto-backed innovations • 25%
International trade • 25%
Other • 25%
Monetary policy tool • 25%
International trade settlements • 25%
Financial stability reserve • 25%
Other • 25%
Stabilize the US Dollar • 25%
Promote Bitcoin adoption • 25%
Enhance financial security • 25%
Other • 25%
Inflation hedge • 25%
Economic stability • 25%
Technological advancement • 25%
Other • 25%
Solidarity with Russia • 25%
Self-interest • 25%
Political leverage • 25%
Other • 25%
United States • 25%
China • 25%
Russia • 25%
Other • 25%
United States • 25%
Russia • 25%
China • 25%
Other • 25%