Is the sovereign wealth fund of Qatar going to invest $500 billion in Bitcoin?
Raphaël Wernert
3/21/24
Last year, Max Keiser, a symbolic figure in the Bitcoin world, sparked a rumour that the "Qatar Investment Authority" (QIA) was considering a colossal investment of $500 billion in Bitcoin. "I have one word for you, fans of the Bitcoin God Candle at $100,000: QATAR. The rumours are getting very strong about this. Their sovereign fund is looking to buy $500 billion worth of BTC," said Max Keiser. A statement that turns heads, as it promises a "seismic impact" on the market.
However, the initial enthusiasm sparked by this statement might fade upon analysis of the economic reality. Indeed, Qatar's investment fund currently manages a portfolio of about $475 billion, making a $500 billion investment in Bitcoin more than unlikely. Moreover, this sum would represent about 40% of the total capitalization of BTC, which makes Keiser's prediction completely implausible.
Despite Keiser's backtrack admitting that "The sovereign wealth fund of Qatar could buy Bitcoin, but surely not for $500 billion," the idea that Qatar might invest in Bitcoin is not without merit. Sovereign funds are constantly looking for the best returns on their investments, and with BTC recently surpassing physical silver in terms of capitalization, the option remains on the table.
