#Saudi Arabia Avoids Cryptocurrency Investment#

Kingdom Holding Company, controlled by Saudi Prince Alwaleed bin Talal, has made it clear that it will not invest in cryptocurrencies. The company's CEO, Talal Ibrahim Maiman, has stated that cryptocurrencies currently lack practicality and are not a viable means of payment for goods and services. He cited Warren Buffett's investment philosophy, arguing that only tangible goods or services with real-world use deserve investment. This aligns with the Saudi royal family's long-held cautious stance towards cryptocurrencies, with Alwaleed bin Talal previously stating that he believes cryptocurrencies "will eventually crash." Despite recent improvements in the US regulatory environment and rumors of Saudi royal investment in cryptocurrencies, the company remains firm in its position, believing that cryptocurrencies lack practical application value and therefore will not invest.