There were recent reports claiming that Saudi Arabia's state-owned petrochemicals giant Aramco would embark on Bitcoin mining activities. However, Aramco has confirmed that these claims are completely false and inaccurate. Media reports circulated that Aramco would begin mining the digital currency after an interview with Brazilian bitcoin miner Ray Nasser was posted on YouTube.
Another news doing rounds in Crypto World is that Germany plans to allow certain institutional funds to invest billions of dollars in crypto assets for the first time.
A law taking effect on Monday will let so-called Spezialfonds with fixed investment rules, to put as much as 20% of their holdings in Bitcoin and other crypto assets. The funds, which can only be accessed by institutional investors such as pension companies and insurers, currently manage about 1.8 trillion euros ($2.1 trillion). This could be a great news for the Crypto industry and the investors.