Why do you think the Saudis buy strategy share instead of just settling part of their oil trade in Bitcoin? Is it to not rock the boat with the US (which counts on them to keep petrodollar alive)?
pull down to refresh
0 sats \ 3 replies \ @DarthCoin 7 Nov
In other words they own an IOU of an IOU.
reply
0 sats \ 2 replies \ @spiderman OP 7 Nov
And the motivation for that is? They don't trust their own officials? Whoever will have the keys can drain and flee to Panama or Switzerland to retire 🤣 Like those heist movies
reply
0 sats \ 1 reply \ @DarthCoin 7 Nov
It doesn't matter, they flew with same worthless IOUs. Or even worse, if they will want to sell those IOUs a gov could block the sale.
Instead if they would buy BTC directly in self-custody, nobody will notice or do anything against.
reply
0 sats \ 0 replies \ @spiderman OP 7 Nov
That is what I am saying. If Saudis buy bitcoin instead, likely one corrupt official is all it takes to drain it and flee.
reply