Kingdom Holding Company, owned by Saudi Prince Alwaleed Bin Talal, has stated its decision not to invest in cryptocurrencies.
KHC's stance on cryptocurrencies
CEO Talal Ibrahim al-Maiman explained that the firm does not see enough practical use of cryptocurrencies for day-to-day purchases, making them unappealing for investment. He stated, “We support Mr. Buffet’s theory that you don’t buy with, don’t invest in, so as we cannot buy any goods with cryptocurrencies, therefore we are currently not looking into investing in them.”
Current investments of KHC
KHC applies a value-investing approach that focuses on assets with clear real-world uses. Most of its assets are in finance, real estate, hospitality, healthcare, and technology, making up around $13.6 billion.
Position on market changes
Even as more people globally find an interest in digital currencies, KHC has not deviated from its traditional style of investments focusing on assets with tangible benefits. While rumors have persisted that the Saudi royal family may start investing in cryptos once the US administration endorses them, KHC has maintained its stance of saying 'no' to cryptocurrencies.
KHC remains committed to its investment strategy, favoring assets with practical applications and avoiding cryptocurrency investments despite their growing popularity.
