Eric Peters, Chief Investment Officer at Coinbase’s asset management unit, suggests that Middle Eastern nations’ exposure to Bitcoin may be greater than what is publicly known.
Peters shared this view in a recent episode of the Bankless podcast. He expressed confidence that some countries in the Middle East already have massive investments in cryptocurrencies, likely exceeding what they have disclosed so far.
This suggests that some countries in the Middle East may be quietly acquiring and holding more cryptocurrencies than they officially report. He indicated that these discrete investments could eventually tie into a new kind of monetary standard, where crypto becomes part of their reserves, alongside gold and other commodities.
Interestingly, he believes this “new monetary standard” narrative will gain momentum over time, drawing in major players who have so far remained on the sidelines—likely at much higher prices.
Reluctant Institutions Will Buy Bitcoin at Higher Prices
While some institutions are entering the Bitcoin market, Peters noted that most remain hesitant to buy at current price levels.
He emphasized that large pools of capital are reluctant to purchase Bitcoin at the $100,000–$120,000 range and would prefer to invest in equities instead. Peters does not expect these investors to buy Bitcoin even if the price drops below $85,000.
Meanwhile, he views this reluctance as a bullish indicator, suggesting it reflects strong future demand.
Peters envisions a scenario where, a few years from now, institutions that previously held back will enter the market at even higher prices—motivated by stronger narratives and improved infrastructure.
Crypto to Become Part of Global Monetary Framework
Peters asserted that hesitant institutions will likely invest in crypto-related infrastructure before directly allocating capital to Bitcoin itself. He believes crypto will eventually become integrated into a new global monetary framework.
Although he does not foresee cryptocurrencies replacing the U.S. dollar, he pointed out that the U.S. is already exploring the idea of establishing a strategic digital asset reserve, which would feature Bitcoin and other tokens.
In his view, this strategic reserve initiative, alongside the growing adoption of crypto in the Middle East, will serve as a catalyst that attracts the large players who have previously overlooked crypto.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
