In a move that has caught the attention of both traditional finance circles and the crypto community, the Saudi Central Bank has made an indirect but notable entry into the digital asset space. By acquiring shares in Strategy (formerly known as MicroStrategy), the central bank has effectively taken a side bet on Bitcoin — the world’s largest and most recognized cryptocurrency.
The bank’s recent 13F filing with the U.S. Securities and Exchange Commission (SEC) reveals it now owns 25,656 shares of Strategy. This may seem like a conventional stock investment on the surface, but the underlying implication is much deeper. Strategy isn’t just any tech firm — it is the largest publicly traded corporate holder of Bitcoin globally.
Bitcoin Exposure by Proxy
Led by outspoken Bitcoin advocate Michael Saylor, Strategy has gone all-in on the digital asset over the past few years. The firm currently holds a staggering 568,840 BTC, which, at today’s market rates, is worth more than $68 billion. For the Saudi Central Bank, this investment translates into significant passive exposure to Bitcoin — without the regulatory and custodial hurdles of holding the asset directly.
Although the share count is relatively modest in the grand scheme, the symbolism of a Middle Eastern central bank aligning itself, even indirectly, with Bitcoin is what’s making waves. It’s a subtle but powerful shift in sentiment, especially from a region traditionally cautious about cryptocurrencies.
Market Response and Public Reactions
While the Saudi Central Bank has made no public comment on the strategy behind this investment, the crypto community was quick to pick up on the implications. On social media platforms like X (formerly Twitter), many crypto enthusiasts framed this as a quiet endorsement of Bitcoin and a potential sign of things to come.
Despite the headline-grabbing move, Strategy’s stock (traded under the ticker MSTR) didn’t respond favorably. The stock slipped roughly 5% on Thursday, closing at $397, as broader market uncertainty and criticism around the company’s leverage strategy continued to weigh on investor sentiment.
Financial commentators like Peter Schiff remain skeptical of Saylor’s high-risk, Bitcoin-heavy treasury strategy — especially given the use of borrowed funds to accumulate the digital asset. Nevertheless, Strategy’s long-term approach continues to draw institutional attention, now including sovereign entities.
A Broader Trend Among Central Banks?
Traditionally, central banks have relied on gold and the U.S. dollar as the bedrock of their reserves. But the financial landscape is evolving. Increasingly, we’re seeing sovereign entities diversify — not just for safety, but also for potential upside. Saudi Arabia appears to be joining a slowly growing list of nations cautiously experimenting with Bitcoin exposure, albeit indirectly.
Nations like El Salvador have famously gone the direct route, adopting Bitcoin as legal tender and placing it on government balance sheets. Meanwhile, others like Norway and Bhutan have opted for a more nuanced approach, investing in companies with crypto exposure — similar to Saudi Arabia’s latest play.
The Saudi Central Bank, previously known as the Saudi Arabian Monetary Authority (SAMA), is not exactly known for making hasty or experimental financial moves. This calculated investment hints at a growing institutional acceptance of digital assets, even among the most conservative actors in global finance.
As Bitcoin continues to mature and institutionalize, indirect adoption through vehicles like Strategy may become a preferred method for central banks navigating regulatory grey zones. Whether this leads to more aggressive positions or simply remains a hedge, one thing is clear: Bitcoin is increasingly becoming impossible for the world’s financial stewards to ignore.
