Over $40 billion in Bitcoin is held by the UAE, but will It be sold? – BitRss

• Current data shows that countries hold over 2% of BTC in circulation.
• UAE holdings, if true, will double the holdings.

Recent reports claim that the United Arab Emirates (UAE) holds over $40 billion worth of Bitcoin. This potentially makes it one of the largest institutional cryptocurrency holders.

While the claim remains unverified, the speculation raises questions about the potential market impact if such a vast holding were to be sold.

Contextualizing the UAE’s alleged Bitcoin holdings

To put the claim into perspective, official data on countries holding Bitcoin shows the United States leading the pack with 207,189 BTC, valued at nearly $19.76 billion.

China follows closely with 194,000 BTC worth approximately $18.5 billion, while the UK holds 61,000 BTC, or $5.82 billion.