#Saudi Arabia Avoids Cryptocurrency Investment#
Hot Topic Overview
Overview
Kingdom Holding, the investment company of Saudi royal member Alwaleed bin Talal, will not be investing in cryptocurrencies in the near future, according to its CEO Talal Ibrahim Maiman, who said cryptocurrencies lack practicality as they are not yet widely used for payments of goods and services. The company, known for its value investment approach similar to Warren Buffett, has consistently avoided cryptocurrencies. Despite previous rumors suggesting the Saudi royal family would invest in cryptocurrencies, the company's concerns remain, as Alwaleed bin Talal previously stated publicly that he believes cryptocurrencies "will one day crash."
Ace Hot Topic Analysis
Analysis
Talal Ibrahim Maiman, CEO of Kingdom Holding Company, recently said that the company will not be investing in cryptocurrencies anytime soon, as they have yet to be used as a means of payment for goods and services. He believes that cryptocurrencies lack practicality and supports a Warren Buffett-style value investing approach, that is "don't buy things, don't invest." Kingdom Holding Company is the investment company of Saudi Prince Alwaleed bin Talal, with $13.6 billion in assets and a portfolio that spans financial, hospitality, healthcare, media, technology, and real estate. Maiman's comments suggest that the Saudi royal family is cautious about cryptocurrencies and believes that they currently lack practical value. Although there were rumors that the Saudi royal family would be investing in cryptocurrencies, Maiman's public statements indicate that the company's concerns about cryptocurrencies remain. As early as 2017, Alwaleed bin Talal said he believes that cryptocurrencies "will one day collapse."
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Cryptocurrencies lack practical utility and have not been used as a means of payment for goods and services
Saudi Aramco follows Buffett's value investing philosophy, not investing in assets that cannot be used to buy goods
The Saudi royal family is cautious about cryptocurrencies, believing they are risky and could eventually collapse
The Saudi royal family's investment attitude towards cryptocurrencies is not related to the US regulatory outlook