PANews reported on January 22 that according to Reuters, Saudi Prince Alwaleed bin Talal's investment company Kingdom Holding said it would not invest in cryptocurrencies in the near future because cryptocurrencies have not yet been widely adopted as a payment method for goods and services. The company's CEO Talal Ibrahim al-Maiman reiterated this position during the World Economic Forum in Davos, citing Warren Buffett's investment philosophy, saying that "things that cannot be used to buy goods are not worth investing in."

Although there have been rumors on social media that the Saudi royal family may invest in cryptocurrencies, Al-Waleed publicly stated as early as 2017 that Bitcoin "will eventually collapse." Currently, Kingdom Holding manages approximately $13.6 billion in assets, covering finance, healthcare, technology and other fields.