#Saudi Arabia Avoids Cryptocurrency Investment#
Hot Topic Overview
Overview
Talal Ibrahim Al-Maiman, CEO of Saudi Arabia’s Kingdom Holding Company, has recently said the company will not be investing in cryptocurrencies at this time, as they are not yet widely used as a means of payment for goods and services. He believes cryptocurrencies lack practicality and supports a Warren Buffett-esque value investing style, which is to buy nothing, invest in nothing. Kingdom Holding, the investment company of senior Saudi royal Alwaleed bin Talal, estimates to have $13.6 billion in assets, with its portfolio covering areas like finance, hospitality, healthcare, media, technology, and real estate. Despite previous rumours that the Saudi royal family would be investing in cryptocurrencies, the company's concerns about cryptocurrencies remain, as Alwaleed bin Talal has previously said he believes they are “going to collapse eventually.”
Ace Hot Topic Analysis
Analysis
Talal Ibrahim Al-Maiman, CEO of Kingdom Holding Company, recently stated that the company will not invest in cryptocurrencies at this time, as they are not yet widely used for payment of goods and services. This statement indicates that Saudi Prince Alwaleed bin Talal, known for his value investing approach, shares Warren Buffett's skepticism towards cryptocurrencies. He believes that cryptocurrencies lack practicality and cannot be used for purchasing goods and services, hence the company's decision not to invest. This statement contradicts rumors circulating on social media that the Saudi royal family was planning to invest in cryptocurrencies. Despite improvements in the US regulatory environment, Kingdom Holding Company's concerns regarding cryptocurrencies remain, reflecting the company's cautious stance towards them. It is worth noting that Alwaleed bin Talal had previously expressed his belief that cryptocurrencies would “collapse one day” back in 2017.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Cryptocurrencies lack practicality and cannot be used as a means of payment for goods and services.
Saudi Aramco follows Warren Buffett's value investment philosophy, not investing in assets that cannot be used to buy goods.
The Saudi royal family is cautious about cryptocurrencies, believing they are prone to bubbles.
The Saudi royal family's investment attitude towards cryptocurrencies is unrelated to the US regulatory outlook.