Saudi Arabia announces strategic Bitcoin reserve study as petrodollar cracks widen

Saudi Arabia’s Public Investment Fund announced a formal study into holding Bitcoin as a strategic reserve asset, sending a signal that even the custodian of the petrodollar is reconsidering its foundations. The announcement came hours after Crown Prince Mohammed bin Salman met with UAE leadership in Abu Dhabi. Finance Minister Mohammed Al-Jadaan said the kingdom must “evaluate all settlement technologies relevant to energy trade in the coming decade.” Saudi Arabia is the world’s largest oil exporter and the single pillar holding up dollar-denominated crude pricing. If they move, the petrodollar does not erode. It collapses. The study is not a commitment. But the last time Riyadh announced a study, Aramco went public within 18 months.