Kingdom Holding, the prominent investment firm chaired by Saudi Prince Alwaleed Bin Talal, has confirmed it has no immediate plans to venture into cryptocurrency investments. This announcement comes amidst growing global interest in digital assets.
Speaking at the World Economic Forum in Davos, CEO Talal Ibrahim al-Maiman emphasized that the decision stems from the limited adoption of cryptocurrency as a mainstream payment method. “We support Warren Buffett’s philosophy—if you can’t buy goods with it, it’s not worth investing in,” al-Maiman stated, reinforcing the firm’s adherence to traditional value investing principles.
With $13.6 billion in assets under management, Kingdom Holding remains focused on sectors such as finance, healthcare, media, and real estate. Prince Alwaleed, known for his conservative investment strategy, has historically expressed skepticism about cryptocurrencies, famously predicting in 2017 that bitcoin would “implode.”
Speculation about potential crypto investments by the Saudi royal family has grown in light of pro-crypto regulatory changes in the U.S., but Kingdom Holding’s stance suggests the firm remains cautious.
As the global cryptocurrency market evolves, the investment firm’s decision highlights a cautious approach, prioritizing stability over emerging trends. This reflects the broader hesitancy among traditional investors to fully embrace digital assets.
Also read: Jupiter Unveils $616M JUP Airdrop: How to Claim Your Share of 700M Tokens
