Saudi Central Bank Bets Big: $60B Bitcoin Play via Strategic Stake

Saudi Arabia’s monetary authority just made a seismic move—locking in a $60 billion Bitcoin position through a calculated equity investment. No more dipping toes; this is a cannonball into crypto’s deep end.

Why it matters: When petrostates start stacking sats, it’s either a masterstroke of diversification or a desperate hedge against their own oil reserves. Either way, Wall Street’s ’digital gold’ narrative just got OPEC-approved.

The fine print: This isn’t some retail-grade exchange account. The stake gives the Saudis direct exposure through institutional-grade custody—skirting the volatility pitfalls that wrecked lesser sovereign experiments (looking at you, El Salvador).

Bottom line: The house always wins. And in 2025, the house is buying Bitcoin while traditional finance still argues about ’intrinsic value.’

Why is Saudi Arabia Pivoting to Bitcoin Exposure Now?

Traditionally, central banks have favored Gold and U.S. dollars as reserve assets.

$11 TRILLION BLACKROCK SAYS CENTRAL BANKS ARE LOOKING TO BUY #BITCOIN

IT’S HAPPENING!!! pic.twitter.com/YNbZaD5EBA

Yet amid global shifts toward innovation and decentralization, Saudi Arabia appears to be exploring a hybrid approach, balancing stability with the upside potential of digital assets.

This investment mirrors the strategy of Norway’s sovereign wealth fund, which holds shares in crypto-forward firms like Coinbase and Strategy to gain market exposure without directly holding Bitcoin.

According to bitcoin Treasuries, over a dozen countries, including El Salvador, Ukraine, Bhutan, and the United States, now have Bitcoin exposure through sovereign or central holdings.

Middle East Adoption Surges: Saudi Arabia Leads MENA’s Crypto Charge

The investment comes amid rapid crypto adoption in the Middle East, especially within Saudi Arabia. Bitget Research revealed that the region surpassed 500,000 average daily crypto traders in February 2024.

Saudi Arabia recorded 129,397 daily crypto users at its peak. This figure surpassed the UAE’s 106,111.

According to Chainalysis’ 2024 MENA report, the Kingdom’s crypto economy is expanding faster than any other in the region, marking 154% annual growth for the second straight year.

The country’s momentum is driven by interest in blockchain innovation, CBDC exploration, gaming integration, and broader fintech development, all of which align with its Vision 2030 goals to modernize and diversify its economy.

GCC Nations Struggle with Unified Crypto Policy

Saudi Arabia, like other GCC nations, has not implemented a complete regulatory system for cryptocurrency operators. While adoption rates climb, no domestic exchanges operate under regulatory oversight. This regulatory gap persists despite growing market activity.

Ihsan Buhulaiga, a respected economist and former member of the Saudi Shura Council, recently called for GCC-wide regulatory alignment, warning that fragmented policies risk undermining regional competitiveness.

Even without a comprehensive VIRTUAL asset regulatory framework, Saudi Arabia is forging ahead.

For example, in June 2024, the Saudi Central Bank joined the mBridge initiative, a cross-border CBDC payment network designed for international oil trade between China and Saudi Arabia.

Will Saudi Youth Accelerate Crypto’s Mainstream Acceptance?

Saudi Arabia’s foray into Bitcoin coincides with increased interest from traditional financial giants. Goldman Sachs and Rothschild have recently expanded operations in Riyadh. Goldman spearheads three tokenization projects globally.

𝗥𝗼𝘁𝗵𝘀𝗰𝗵𝗶𝗹𝗱 𝗠𝗮𝗸𝗲𝘀 𝗮 𝗠𝗮𝗷𝗼𝗿 𝗘𝗻𝘁𝗿𝘆 𝗜𝗻𝘁𝗼 𝗦𝗮𝘂𝗱𝗶 𝗔𝗿𝗮𝗯𝗶𝗮

With news of Saudi Arabia abandoning the petrodollar and rumored to be interested in joining BRICS, Edmond de Rothschild Bank is partnering with SNB Capital, Saudi Arabia’s largest asset… pic.twitter.com/OBjilUAK3v

Saudi Arabia’s young population drives its crypto transformation. Nearly two-thirds of Saudis are under 30. They embrace technology quickly, making them ideal adopters of blockchain and digital currencies.

Saudi Arabia: 34.4M people, $1.14T GDP, 92% urban, and a young population driving crypto growth.

Vision 2030 is fueling adoption, KSA is primed to be a Web3 powerhouse.

With a median age of 29, this crowd is young, wired, and vibing with the #CHILLGUY#Crypto… pic.twitter.com/gQesQgn62H

Strong institutional backing and flexible policies amplify this advantage. Together, these factors position Saudi Arabia as a future leader in global crypto adoption.

Frequently Asked Questions (FAQs)

As of December 2024, Saudi Arabia has not enacted specific legislation governing cryptocurrencies. This means there is no formal legal recognition of cryptocurrencies in the Kingdom.

No one knows, but it’s unlikely. The central bank invested in a publicly-listed company, so the stake is an indirect exposure to Bitcoin. It’s more of an experiment rather than a full endorsement by the bank.