Saudi Central Bank Reports Holding 25,656 Shares in Saylor’s Strategy

Highlights:

• Saudi Arabia’s central bank bought MSTR shares, gaining indirect Bitcoin exposure.
• More central banks are diversifying reserves by including Bitcoin and crypto assets.
• Critic Peter Schiff said buying Bitcoin stocks is riskier than buying Bitcoin itself.

Saudi Arabia’s Central Bank has made a surprising move into the crypto sector by acquiring shares in Michael Saylor’s Strategy (formerly MicroStrategy), the largest corporate holder of Bitcoin worldwide. According to a recent SEC 13F filing, the bank currently owns 25,656 shares of the company. This investment gives the bank indirect exposure to Bitcoin since Strategy keeps most of its funds in the cryptocurrency. Strategy owns about 568,840 BTC, worth around $68 billion at today’s prices.

This move puts the Saudi Central Bank, also called SAMA, in a small but growing group of government banks with some exposure to cryptocurrency. On social media, the crypto community welcomed the Saudi Central Bank’s decision as an important yet quiet shift toward cryptocurrency. Many believe this shows confidence in Strategy’s Bitcoin investment and may encourage other big companies to do the same.

Central Banks Shift Toward Crypto Amid Growing Institutional Interest

Central banks have long depended on gold and U.S. dollars to protect their national reserves. However, with increasing focus on economic diversification, some are turning to higher-growth investments. According to public records, about a dozen countries—including the United States, El Salvador, Iran, Bhutan, and the United Kingdom —now include Bitcoin in their treasury and central bank reserves.

Norway’s sovereign wealth fund took a similar approach by boosting its investments in companies with strong ties to the crypto market. These firms include Strategy, Metaplanet, and Coinbase, all known for their significant crypto exposure.

MicroStrategy’s stock (MSTR) has not responded well to the news, dropping almost 5% on Thursday and closing at $397. The stock has been unstable over the last five days as experts discuss what this means for big institutions using crypto.

Peter Schiff Criticizes Michael Saylor’s Strategy

Some critics, like Peter Schiff, have also questioned Michael Saylor’s decision to buy Bitcoin using borrowed money. In a recent post on X, Peter Schiff criticized the idea of gaining crypto exposure by purchasing shares in companies focused solely on Bitcoin, calling it “ridiculous.” He argued that those interested in cryptocurrency should buy Bitcoin itself rather than stocks. Schiff also recommended that investors choose companies with solid, established businesses.

Not always possible to get exposure to Bitcoin directly in retirement funds, particulary here in the UK where we don't have access to the Bitcoin ETFs. Bitcoin treasury stocks are the easiest way to get exposure on digital gold, while avoiding regulatory red-tape.

— AssetMarketCap (@AssetMarketCap) May 14, 2025

Schiff said Bitcoin might be used differently than fans think. He gave an example of Jim Chanos, who bought Bitcoin to protect against Strategy stock. Chanos warned that MSTR is too expensive compared to the value of its Bitcoin. Schiff mocked the situation, saying Saylor “unintentionally created a true use case for Bitcoin.” He noted that investors now use Bitcoin to hedge against risks tied to Saylor’s company. According to Schiff, Saylor’s Strategy is no longer just a software firm but mostly a BTC holder.

Wow, people get very upset when you point out they are buying $1 for $3. (And doing exactly what their favorite company is doing!) $MSTR

— James Chanos (@RealJimChanos) May 14, 2025