{"id":570956,"date":"2024-01-23T19:00:12","date_gmt":"2024-01-23T19:00:12","guid":{"rendered":"https:\/\/uniquehot.com\/?p=570956"},"modified":"2024-06-11T11:43:44","modified_gmt":"2024-06-11T11:43:44","slug":"bitcoin-500-investment-50000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-500-investment-50000\/","title":{"rendered":"Bitcoin Recovery: This Massive $500 Billion Investment Could Send Price Above $50,000"},"content":{"rendered":"

Previous speculation has resurfaced regarding one of the largest potential Bitcoin buy-ins in the history of cryptocurrency. According to crypto analyst Justin Verrengia, there are indications that Saudi Arabia and Qatar may be gearing up for an enormous Bitcoin purchase, with an official announcement anticipated in the coming week.\u00a0<\/span><\/p>\n

Saudi Arabia, Qatar Rumored To Purchase 1 Million BTC<\/h2>\n

In a recent video published on X (formerly Twitter), Verrengia, the host of the popular crypto channel Crypto News Alert <\/span>spoke<\/span><\/a> on the recent rumors sparked by crypto analyst Mark Keiser regarding a potential large-scale Bitcoin purchase by Middle Eastern country Saudi Arabia and sovereign state Qatar.\u00a0<\/span><\/p>\n

Related Reading: JP Morgan Reveals Likelihood Of Spot Ethereum ETFs Getting Approved<\/a><\/div>\n

The crypto analyst disclosed that both governments are potentially considering purchasing about 1 million Bitcoins valued at around $500 billion. Verrengia compared the large-scale buy-in with the 1.1 million BTC held in the wallet address owned by pseudonymous Bitcoin creator <\/span>Satoshi Nakamoto<\/span><\/a>. He hinted that Saudi Arabia and Qatar may be planning to purchase this staggering sum of Bitcoin using their sovereign wealth funds.\u00a0<\/span><\/p>\n

In his video, Verrengia showcased several X posts from Bitcoin maximalist, Mark Keiser, who has been spreading speculations about the possibility of a large-scale Bitcoin purchase by Saudi Arabia and Qatar since 2023.\u00a0<\/span><\/p>\n

Keiser <\/span>suggested<\/span><\/a> in his posts that the potential 1 million BTC investment by these two governments could make asset management company BlackRock and crypto intelligence company <\/span>Microstrategy<\/span><\/a> \u201clook like peanuts\u201d in comparison.\u00a0<\/span><\/p>\n

The crypto analyst also disclosed that Saudi Arabia may be <\/span>expanding its interest<\/span><\/a> toward digital currencies. This shift can be seen in the recent partnership between the largest oil company in Saudi Arabia, Saudi Aramco, and Japanese financial service, SBI Holdings. Verrengia has heralded this movement as \u201coil money entering Bitcoin.\u201d\u00a0<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC price falls to $38,000 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Bitcoin Price Sees Potential Rise Above $50,000<\/h2>\n
In his video, Verrengia also shared a post by Keiser, who predicted a $100,000 god candle if Saudi Arabia and Qatar purchase the 1 million BTC. A god candle here suggests a unique price pattern where the price of Bitcoin shoots upward by 100%, pushing it to new all-time highs.\u00a0<\/span><\/p>\n
Related Reading: How To Buy, Sell, And Trade Tokens on The Polygon Network<\/a><\/div>\n
Presently, the <\/span>price of Bitcoin<\/span><\/a> is trading around $38,966.81, reflecting a 9.01% decrease in the past seven days, according to CoinMarketCap. A purchase of 1 million BTC would represent a substantial chunk of the total BTC supply, effectively attracting the attention of institutional investors. This could potentially trigger a Fear of Missing Out (FOMO), <\/span>driving demand for Bitcoin <\/span><\/a>through the roof and sending Bitcoin\u2019s price above $50,000.\u00a0<\/span><\/p>\n
In 2023, the hype surrounding the <\/span>approval of Spot Bitcoin ETFs<\/span><\/a> pushed Bitcoin\u2019s price to a record high above $49,000. A similar result to the coveted $50,000 price mark could be attained if Saudi Arabia and Qatar purchase the rumored 1 million BTC.<\/span><\/p>\n
Featured image from Reuters, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Previous speculation has resurfaced regarding one of the largest potential Bitcoin buy-ins in the history of cryptocurrency. According to crypto analyst Justin Verrengia, there are indications that Saudi Arabia and Qatar may be gearing up for an enormous Bitcoin purchase, with an official announcement anticipated in the coming week.\u00a0 Saudi Arabia, Qatar Rumored To Purchase 1 Million BTC In a recent video published on X (formerly Twitter), Verrengia, the host of the popular crypto channel Crypto News Alert spoke on the recent rumors sparked by crypto analyst Mark Keiser regarding a potential large-scale Bitcoin purchase by Middle Eastern country Saudi Arabia and sovereign state Qatar.\u00a0 Related Reading: JP Morgan Reveals Likelihood Of Spot Ethereum ETFs Getting Approved The crypto analyst disclosed that both governments are potentially considering purchasing about 1 million Bitcoins valued at around $500 billion. Verrengia compared the large-scale buy-in with the 1.1 million BTC held in the wallet address owned by pseudonymous Bitcoin creator Satoshi Nakamoto. He hinted that Saudi Arabia and Qatar may be planning to purchase this staggering sum of Bitcoin using their sovereign wealth funds.\u00a0 In his video, Verrengia showcased several X posts from Bitcoin maximalist, Mark Keiser, who has been spreading speculations about the possibility of a large-scale Bitcoin purchase by Saudi Arabia and Qatar since 2023.\u00a0 Keiser suggested in his posts that the potential 1 million BTC investment by these two governments could make asset management company BlackRock and crypto intelligence company Microstrategy \u201clook like peanuts\u201d in comparison.\u00a0 The crypto analyst also disclosed that Saudi Arabia may be expanding its interest toward digital currencies. This shift can be seen in the recent partnership between the largest oil company in Saudi Arabia, Saudi Aramco, and Japanese financial service, SBI Holdings. Verrengia has heralded this movement as \u201coil money entering Bitcoin.\u201d\u00a0 BTC price falls to $38,000 | Source: BTCUSD on Tradingview.com Bitcoin Price Sees Potential Rise Above $50,000 In his video, Verrengia also shared a post by Keiser, who predicted a $100,000 god candle if Saudi Arabia and Qatar purchase the 1 million BTC. A god candle here suggests a unique price pattern where the price of Bitcoin shoots upward by 100%, pushing it to new all-time highs.\u00a0 Related Reading: How To Buy, Sell, And Trade Tokens on The Polygon Network Presently, the price of Bitcoin is trading around $38,966.81, reflecting a 9.01% decrease in the past seven days, according to CoinMarketCap. A purchase of 1 million BTC would represent a substantial chunk of the total BTC supply, effectively attracting the attention of institutional investors. This could potentially trigger a Fear of Missing Out (FOMO), driving demand for Bitcoin through the roof and sending Bitcoin\u2019s price above $50,000.\u00a0 In 2023, the hype surrounding the approval of Spot Bitcoin ETFs pushed Bitcoin\u2019s price to a record high above $49,000. A similar result to the coveted $50,000 price mark could be attained if Saudi Arabia and Qatar purchase the rumored 1 million BTC. Featured image from Reuters, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":570963,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,435,601,656,679,1119,84403,89185,1122,1144,78790],"class_list":["post-570956","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-adoption","tag-bitcoin-investment","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-investment","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Recovery: This Massive $500 Billion Investment Could Send Price Above $50,000<\/title>\n<meta name=\"description\" content=\"Previous speculation has resurfaced regarding one of the largest potential Bitcoin buy-ins in the history of cryptocurrency.\" 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Recovery: This Massive $500 Billion Investment Could Send Price Above $50,000","url":"http:\/\/uniquehot.com\/news\/bitcoin-500-investment-50000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-500-investment-50000\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Bitcoin_27c6fb.jpeg?resize=200%2C177","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Bitcoin_27c6fb.jpeg?fit=284%2C177"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin adoption","bitcoin investment","bitcoin news","bitcoin price","btc","btc investment","btc news","btc price","btcusd","btcusdt"],"dateCreated":"2024-01-23T19:00:12Z","datePublished":"2024-01-23T19:00:12Z","dateModified":"2024-06-11T11:43:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Recovery: This Massive $500 Billion Investment Could Send Price Above $50,000\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-500-investment-50000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-500-investment-50000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Bitcoin_27c6fb.jpeg?resize=200%2C177\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/01\\\/Bitcoin_27c6fb.jpeg?fit=284%2C177\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin adoption\",\"bitcoin investment\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc investment\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2024-01-23T19:00:12Z\",\"datePublished\":\"2024-01-23T19:00:12Z\",\"dateModified\":\"2024-06-11T11:43:44Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/01\/Bitcoin_27c6fb.jpeg?fit=284%2C177","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/570956"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=570956"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/570956\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/570963"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=570956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=570956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=570956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}