According to market news, Gulf oil-producing countries such as Saudi Arabia, the United Arab Emirates or Qatar may be buying bitcoin at the sovereign level. The relevant sovereign funds may disclose the relevant news during the Bitcoin Summit in Abu Dhabi on December 9-10. At present, the total asset management size of Saudi PIF, UAE ADIA and Qatar QIA has exceeded 2 trillion US dollars. As the total market value of bitcoin has surpassed Saudi Aramco, the world's largest oil company, Saudi Arabia has attracted much attention as the largest oil producer in the Gulf region. As the world's largest sovereign wealth fund holder, the investment trend of Gulf oil-producing countries will have an important impact on the global crypto asset market. At the same time, as the host of the upcoming Bitcoin conference, the UAE is also considered to be likely to participate. In addition, there have been persistent rumors in the market recently that Qatar may also make sovereign investments. (protos)