Abu Dhabi’s Royal Group Rides the Crypto and Commodities Wave in Anticipation of Global Recession
Abu Dhabi's top royal investment firm has recently made significant short positions on US stocks, reflecting concerns about the potential impact of a global recession, as reported by Bloomberg and sources familiar with the matter.
The growing possibility of a global economic downturn has become more evident in recent months, characterized by the US dollar’s decline and the repercussions major banks face.
After the short positions on US stocks, the Royal Group, based in the UAE, shifted its portfolio towards short-term US treasuries, motivated by apprehensions about the looming global economic downturn.
In response to these developments, the UAE National Security Adviser, Sheikh Tahnoon bin Zayed Al Nahyan, has reportedly taken a personal interest in the Royal Group’s exploration of cryptocurrencies and commodities. However, specific details about their investments remain undisclosed.
Due to the uncertain nature of the worldwide economy, a growing number of investors are seeking refuge in non-traditional sectors such as cryptocurrencies and commodities. These markets have demonstrated their ability to withstand the potential repercussions of an impending global economic downturn.
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At the same time, there has been a notable decline in stock prices as several well-known banks in the US have faced financial collapse. In light of the current economic circumstances, the Royal Group’s foray into the crypto and commodities markets could be seen as a strategic move to take advantage of the situation.
Moreover, the UAE Royal’s firm is not the sole entity signaling an impending global recession. Earlier this year, the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, cautioned that a collective recession would affect approximately one-third of all economies.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
