Qatar’s sovereign wealth fund has no interest in investing in Bitcoin, but is still very much interested in exploring blockchain.
Cryptocurrencies have yet to grab Qatar Wealth Fund’s interest despite their dominating popularity, Chief Executive Officer Mansoor Al Mahmoud revealed.
The blockchain technology itself, however, has turned some heads.
“Our team in the technology space are exploring opportunities in the blockchain,” Al Mahmoud said in an interview at the second Qatar Economic Forum in Doha on Tuesday.
“This is the space that we’re interested in, not the currency itself.”
The most widely used cryptocurrency, Bitcoin, witnessed a dramatic plunge last week after a number of platforms blocked withdrawals. The currency was trading at around $21,000, down more than 3% in the past day, according to data from CoinMetrics.
Once dubbed ‘the currency of the future’, Bitcoin has seen a drop of more than 20% in the last week alone and more than 60% from its all-time high in November,...
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