Yesterday, Binance founder Zhao Changpeng (CZ) forwarded a report about the UAE holding Bitcoin worth $40 billion, leading the community to question whether it was fake news. CZ later responded that he also wanted to know how the report arrived at the exact number and stated that the figure was higher than he imagined.

Last night (22nd), Binance founder Zhao Changpeng (CZ) forwarded a report about the United Arab Emirates (UAE) holding Bitcoin worth $40 billion, sparking widespread discussion in the community.

Fake news, or does CZ have insider information?

However, the news shared by CZ immediately attracted skepticism from some individuals, with cryptocurrency lawyer Irina Heaver commenting: "There is nothing in this article indicating that the UAE holds Bitcoin; it looks like a randomly AI-generated article."

In response, CZ said: "I also want to know how they arrived at the exact number; collecting this data is quite challenging."

Higher than I imagined, but then again, there are many wealthy people here.

At the same time, CZ expressed his amazement at the rapid progress of Dubai becoming a global cryptocurrency center, saying, "I have indeed made a lot of money here. But I didn't know this number was so large, nor how much of it could be attributed to my efforts. When I came to Dubai in 2021, there were only a handful of cryptocurrency companies. Within months, there were hundreds, and now there are thousands..."

The author believes that given CZ's influence and insider knowledge, his post indirectly validates that the UAE indeed has bought Bitcoin; it just remains uncertain whether the amount really reaches $40 billion...

If the UAE truly holds $40 billion in Bitcoin, it will surpass the U.S. and Chinese governments.

According to reports, the information forwarded by CZ comes from the foreign media CryptoDNES, which also indicates that its sources seem to be based on unverified community rumors. With the UAE government actively building a regulatory environment favorable for the growth of cryptocurrencies in recent years, attracting more and more major cryptocurrency companies and startups to develop locally, there are even rumors that the UAE's Bitcoin holdings have grown to a value of $40 billion.

On the 20th, cryptocurrency analyst Lark Davis, who has over 1.3 million followers on X, posted that rumors suggest the UAE has purchased 300,000 Bitcoins (currently valued over $28.1 billion), saying, "If this proves to be true, then no one is bullish enough on Bitcoin."

Another analyst, Trader T, stated in the community that Bitcoin worth $40 billion translates to about 411,978 BTC in potential holdings, which means this Middle Eastern country may rank among the top three entities globally in Bitcoin holdings, second only to BlackRock's IBIT Bitcoin spot ETF and MicroStrategy, and it would also be the largest national government holder, surpassing the U.S. government's 207,000 and the Chinese government's 194,000.