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The Saudi Central Bank has taken an indirect stake in Bitcoin by acquiring shares of MicroStrategy, signaling a shift in its financial strategy. This move aligns with Saudi Arabia’s Vision 2030 plan to diversify its economy away from oil. The investment highlights the growing global acceptance of cryptocurrencies among traditional financial institutions.
- Saudi Central Bank's MicroStrategy investment gives it indirect exposure to Bitcoin, aligning with Vision 2030 economic reforms.
- The SEC's withdrawal of SAB 121 has encouraged U.S. banks to adopt Bitcoin, while European central banks consider crypto reserves.
- Switzerland's AMINA exemplifies crypto-friendly banking, offering services for over 15 cryptocurrencies alongside traditional fiat accounts.
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Other Tags: Czech National Bank, MicroStrategy Inc.