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Saudi Arabia Acquires 25,656 Shares of Strategy

  • Saudi Arabia acquires 25,656 shares of Strategy, marking its first exposure of state reserves to Bitcoin.
  • The move demonstrates Saudi Arabia's leading activity in the crypto economy of the Middle East.
  • The Saudi Central Bank acquired shares in Strategy, a company focused on Bitcoin, holding 576,230 BTC worth ~$60 billion.
  • Saudi Arabia's crypto initiatives are part of Vision 2030, with a former member of the Saudi Shura Council emphasizing the need for unified regulatory procedures in the GCC nations.

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