Recent days have seen new rumors circulating that the United Arab Emirates (UAE) holds over $40 billion worth of Bitcoin (BTC). These rumors gained momentum following a vague tweet from Changpeng Zhao, the former CEO of the Binance exchange, on December 22nd, where he hinted at an unofficial report claiming that the UAE has stored around $40 billion in Bitcoin.
Trader T, a renowned analyst, reacted to this news by suggesting that if the claim holds true, it would mean that the UAE possesses 411,978 Bitcoins, placing the country among the top three largest Bitcoin holders globally and transforming it into the largest government-held Bitcoin holder.
This claim has sparked widespread reactions within the digital currency community, albeit with a degree of skepticism and doubt. According to the Bitcoin Archive team, some individuals regard the UAE’s alleged $40 billion Bitcoin purchase as factual, but based on publicly available information, this assertion remains unverified and is merely a rumor that originated on social media.
The concept of governments accumulating Bitcoin, especially in wealthy Middle Eastern countries, is not a new phenomenon. Last month, rumors surfaced that Saudi Arabia and Qatar may have increased their Bitcoin reserves.
In this context, El Salvador stands out as a tangible example of this trend. The country recently acquired an additional 11 Bitcoins, bringing its reserves to 5,993.77 Bitcoins, worth approximately $575 million.
Despite previous agreements with the International Monetary Fund (IMF) to halt such policies, El Salvador has plans to increase its Bitcoin reserves by another 20,000 units.
For real-time updates on digital currency prices, you can track the prices of all tokens and cryptocurrencies on the momentary price page.
