#Saudi Arabia Avoids Cryptocurrency Investment#
Hot Topic Overview
Overview
Talal Ibrahim Al-Maiman, CEO of Saudi Arabian Public Investment Fund, recently stated that the company will not be investing in cryptocurrencies anytime soon, as they are not yet widely used as a method of payment for goods and services. The company supports Buffett's value investing philosophy, believing that only assets that can be used to purchase goods and services are worth investing in. Despite previous rumors of the Saudi royal family investing in cryptocurrencies, Al-Maiman's statements indicate that at least for now, the Saudi royals are taking a cautious approach to cryptocurrencies.
Ace Hot Topic Analysis
Analysis
Talal Ibrahim Maiman, CEO of Kingdom Holding Company, recently said the company will not be investing in cryptocurrencies in the near future, as they are not yet being used as a means of payment for goods and services. He believes cryptocurrencies lack practicality and supports Warren Buffett's value investing philosophy of “not buying what you don't understand.” Kingdom Holding Company, owned by Saudi Prince Alwaleed bin Talal, has $13.6 billion in assets and a portfolio that spans financial, hospitality, healthcare, media, technology, and real estate sectors. Maiman’s remarks suggest the Saudi royal family is cautious about cryptocurrencies, despite previous rumors of their investment. Alwaleed bin Talal, a member of the Saudi royal family, previously stated publicly that he believes cryptocurrencies will “collapse one day.”
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Cryptocurrencies lack practicality and cannot be used for payment of goods and services
Saudi Aramco follows a value investment philosophy and does not invest in assets that cannot generate real value
The Saudi royal family is cautious about cryptocurrencies, believing they have a bubble risk
The Saudi royal family is taking a wait-and-see approach to the regulatory outlook for cryptocurrencies