In April 2023, I argued that Saudi Arabia should diversify a small portion of its sovereign reserves away from U.S. Treasuries and into Bitcoin. Three years on, almost every premise of that piece has hardened. The price of Bitcoin has nearly tripled. The purchasing power of the dollar has continued to deteriorate. But most surprisingly, the “protection racket” portion of the petrodollar agreement has failed. Today, we evaluate why the Saudis and the Gulf need Bitcoin now more than ever. https://open.substack.com/pub/gringuito/p/vision-2030-revisited?r=8spgn&utm_medium=ios