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Al Abraaj Group has made history by becoming the first publicly listed company in the Middle East to adopt Bitcoin as a treasury asset. This strategic move aligns the company with global giants like MicroStrategy and Tesla, signaling a growing trend of corporate Bitcoin adoption.

Al Abraaj Group’s Bitcoin Purchase

Bahrain’s Al Abraaj Group recently announced its initial purchase of 5 Bitcoin (BTC) as part of a long-term strategy to integrate cryptocurrency into its corporate treasury. The company plans to expand its holdings in the future, showcasing its confidence in Bitcoin’s potential as a financial asset.

Abdullah Isa, head of the Bitcoin Treasury Committee at Al Abraaj Group, emphasized the forward-thinking nature of this initiative. In a statement, he noted,

“We believe that Bitcoin will play a central role in the future of finance, and we are pleased to be at the forefront of this shift in the Kingdom of Bahrain.”

Collaboration with 10X Capital

To effectively execute its Bitcoin strategy, Al Abraaj Group has partnered with New York-based investment firm 10X Capital. The collaboration aims to raise additional funds for Bitcoin purchases, further increasing the number of BTC tied to each share of the publicly traded company.

Hans Thomas, CEO of 10X Capital, remarked on the significance of this move, stating that with Bitcoin now included in the company’s balance sheet, investors in the Gulf Cooperation Council region can gain exposure to cryptocurrency through Al Abraaj’s stock.

Shariah-Compliant Financial Tools

As part of its efforts to cater to the Islamic market, Al Abraaj Group is exploring Shariah-compliant financial tools that would enable the Islamic world to access Bitcoin in a legitimate and regulated manner. This approach ensures that their strategy aligns with both Islamic principles and regional financial regulations.

Regulatory Compliance

The company confirmed that its decision to adopt Bitcoin followed thorough internal reviews and complies with the guidelines of the Central Bank of Bahrain. This regulatory assurance underscores the responsible approach Al Abraaj Group is taking in integrating cryptocurrency into its operations.

What This Means for Investors

Al Abraaj Group’s decision to adopt Bitcoin reflects its confidence in the cryptocurrency’s long-term value and its potential to reshape the financial landscape. For investors, this opens up new opportunities to gain exposure to Bitcoin through publicly traded stocks, particularly in the Middle East.

With growing interest in cryptocurrencies and increasing corporate adoption, moves like these reinforce Bitcoin’s position as a viable asset for treasury management and investment portfolios.

Stay informed on the latest developments in cryptocurrency, investing, and finance.

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