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A $243 billion Emirati sovereign fund is ready to invest in the crypto market

A $243 billion Emirati sovereign fund is ready to invest in the crypto market

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Answer A $243 billion Emirati sovereign fund is ready to invest in the crypto market

The Mubadala Capital Investment Fund, which is a sovereign wealth fund owned by the Emirate of Abu Dhabi and which manages assets of more than 243 billion dollars, can now expand its investments into the crypto market and space.

Mubadala CEO Khaldoon Al Mubarak recently appeared on CNBC to discuss various things including cryptocurrency.

Khaldoun made it clear that he believes in cryptocurrencies and their technologies and that he will definitely separate himself from the skeptics.

Read:Learn one of the reasons why Bitcoin dropped to the $21,000 level

Khaldoun noted the rapid growth of the crypto market over the past two years and how it has grown from a few billion to $3 trillion in the market in just two years.

He added:

I think the cryptocurrency market is real, it was worth $200 billion two years ago, it is now worth $2.5 trillion today and it’s growing.

So while a lot of people are skeptical, I don’t fall into this category.

I will go on to say:

From our perspective, I think we’re looking at the ecosystem around cryptocurrencies.

And I think we’re investing in this ecosystem.

This could be in blockchain technology, energy usage, etc.

It is worth noting that the wealth fund is among the richest funds in the world and has relations with Crown Prince “Mohammed bin Zayed”, who also owns a majority stake in Manchester City Football Club.

The wealth fund made its first crypto investment in 2019 by investing in the UAE’s first regulated cryptocurrency exchange, MidChains.

The UAE is fast moving towards crypto regulations:

The status of crypto regulation has grown exponentially in the UAE as evidenced by the growing interest in some investment funds in the crypto space.

Read:The founders of the “Fantom” project and “Yearn Finance” exit the crypto market and the prices of YFI and FTM are affected by the news!

The country has created special investment zones to help the emerging technologies of cryptocurrency and blockchain flourish.

The CEO of Mubadala stated that although crypto regulations will take some time before they are finalized and become law.

He also said:

Regulations have to evolve and anticipate that the crypto market will be regulated as an asset class.

Read also:

Binance Announces To Shut Down All Crypto Services In Singapore By February 2022…Here’s Why!

Analysis: Bitcoin Needs to Recover $53,000 to Return to Bull Racing


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