Skybridge Capital founder Anthony Scaramucci tweeted that Qatar may have added Bitcoin to its reserves, as the Emir’s private jet was spotted in Madeira during the Bitcoin Atlantis conference.
Rumors are swirling that Qatar, one of the richest countries in the world, may have joined the Bitcoin bandwagon following a tweet by Skybridge Capital founder Anthony Scaramucci.
The hedge fund manager and former White House communications director claimed that Qatar may have added Bitcoin (BTC) to its reserves and would be the first Middle Eastern country to do so.
Scaramucci’s tweet came after the Qatar Executive Gulfstream G650ER, the private jet of the Emir of Qatar, His Highness Tamim Bin Hamad, was seen in Madeira, Portugal, during the Bitcoin Atlantis conference.
The conference, which took place from February 28 to March 3, was attended by some of the most influential figures in the crypto space, including MicroStrategy CEO Michael Saylor, who gave a historic speech on Bitcoin’s value proposition.
Qatar’s interest in Bitcoin
Qatar’s interest in Bitcoin is not new, as the Emir visited El Salvador in September 2023 to discuss Bitcoin adoption and other investment opportunities with President Nayib Bukele. El Salvador became the first country to make Bitcoin legal tender in June 2021 and has since been encouraging other nations to follow suit.
Bitcoin maximalist Max Keiser, who is also a close associate of Bukele, has been pushing for Qatar to embrace Bitcoin for a while. He even suggested that Qatar could host the next Bitcoin conference in 2025 and that the Emir could announce his Bitcoin holdings there.
However, there is no official confirmation from Qatar on whether it has bought any Bitcoin or not. Qatar has a strict regulatory stance on crypto, as it banned crypto trading and services in January 2020, citing concerns over money laundering and terrorism financing.
Meanwhile, Bitcoin has soared above $64,000 for the second time as more investors flock to Bitcoin ETFs, which are funds that track the price of the cryptocurrency. Since the first Bitcoin ETF was approved by the SEC in February, nine more have followed, creating a crowded market.
Two funds, IBIT and FBTC, have dominated the inflows, attracting 79% of the total. Four other funds have cut their fees to compete, while Bitwise has kept its fee unchanged.
IBIT saw the highest single-day influx of $612 million on February 28 and has been the most popular fund in the past month. Investors may benefit from the large distribution network of IBIT’s fund manager, BlackRock.
