Foreign media: Middle Eastern countries want USD alternatives to Bitcoin, most Middle Eastern elites are skeptical of Bitcoin

Most Middle Eastern elites participating in the Swiss Davos Economic Forum are highly skeptical of Bitcoin. Representatives from Oman to the United Arab Emirates and Saudi Arabia have expressed similar disdain for Bitcoin as an asset, and they often refer to Bitcoin as a gambling channel. Crescent Enterprises CEO Badr Jafar believes that most players in the industry are in no hurry to get rid of the dollar. Jafar has invested heavily in the oil and gas industry. Jafar said leaders and businessmen still do not "trust" cryptocurrencies, and he expects central banks to fight back if bitcoin becomes more widely used. When asked if cryptocurrencies would replace the U.S. dollar by 2025, the head of the World Economic Forum's currency system, Matthew Blake, said that the role of the U.S. dollar was so obvious, "It will take more than 4 years to replace the U.S. dollar in a meaningful way. . "Bitcoin may or may not participate. Blake said, "Bitcoin has demonstrated some of the characteristics of a distributed currency. It also faces challenges. The role of currency is to have an inherently stable value reserve. Liquidity is required. As far as Bitcoin is concerned, it These qualities are not yet available. "