Saudi Central Bank has gained its first indirect exposure to Bitcoin by investing in an American development company called Strategy, formerly known as MicroStrategy.
Saudi Arabia seems to be exploring new approaches to balance stability with the potential upsides of digital assets in the midst of a global shift towards innovation.
More than a dozen countries, including Saudi Arabia, have sought Bitcoin exposure through central holdings, indicating a growing interest in digital assets among nations.
Saudi Arabia lacks a comprehensive regulatory system for cryptocurrency operations despite significant growth in market activity and adoption, driven by its young population and technological adoption.