Today it has been announced that the group of restaurants of Al Abraaj BSC has become the first company listed on the stock exchange in the region to adopt Bitcoin as a treasure reserve activities. The hospitality company based in Bahrain has announced today that she had acquired 5 bitcoins for its budget, with plans to significantly increase its allocation over time.
“Our initiative to become a Bitcoin Treasure Company reflects our forward -looking approach and dedication to maximize the value for shareholders,” said Abdulla Isa, president of the Bitcoin Treasury Committee A al Abraaj. “We believe that Bitcoin will play a fundamental role in the future of finance, and we are excited to be at the forefront of this transformation in the kingdom of Bahrein. 10x is a leader proven in advising and bringing capital to the companies of the Bitcoin Treasury listed and we lead their partnerships to help us build the micro -striategia of the Middle East.”
The decision takes Abraaj not only the first in Bahrain, but also in the GCC and the wider Middle East, to publicly keep Bitcoin in its budget. The investment is a direct response to the growing institutional interest in Bitcoin and comes in the midst of what seems to be a regional movement towards digital activities.
The strategic partner of Abraaj in the transition is 10x capital, an investment company based in New York with a solid experience in the management of the Treasury of digital resources. 10x previously recommended companies such as Nakamoto with its financing round focused on Bitcoin from $ 710 million.
“I would like to congratulate Abdalla Isa and Al Abraaj’s team for the adoption of Bitcoin at the level of the corporate treasure, finally allowing anyone in the GCC with an intermediation account to obtain a bitcoin exposure,” said Hans Thomas, a 10x capital CEO. “Bahrein continues to be a leader in the Middle East in the adoption of Bitcoin, supported by a forward -looking regulatory framework.”
Thomas added: “The GCC, with a combined GDP of $ 2,2 trillion and over $ 6 trillion of sovereign wealth funds, has so far devoid of a purchase of Bitcoin Treasury listed on the stock exchange as a strategy, Tesla or Metaplanet. Which changes today with the historical purchase of Bitcoin by Abraaj.”
Abraaj said he will continue to work under the regulatory supervision of the Bahrain Central Bank (CBB) and has promised full compliance with all the laws on digital activities transactions. The company will adopt a solid custody, risk management and governance protocols for its Bitcoin invitations.
Dissemination: Nakamoto is in collaboration with the parent company of Bitcoin BTC Inc magazine to build the first global network of Bitcoin Treasury Company, where BTC inc provides some marketing services in Nakamoto. Further information on this can be found Here.