The post Bitcoin Treasury Fever Hits The Middle East appeared on BitcoinEthereumNews.com.

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure In a watershed moment for Gulf capital markets, Al Abraaj Restaurants Group (trading on the Bahrain Bourse as ABRAAJ) disclosed on Wednesday that it has transferred part of its corporate treasury into Bitcoin, becoming the first publicly listed company anywhere in the Middle East to hold the cryptocurrency on its balance sheet. Al Abraaj Leads MENA With Bitcoin Treasury Move In a statement released in Arabic, the food-services operator said it had “completed a historic first-time purchase of Bitcoin within its institutional treasury” and intends to “build a strategic, Sharia-compliant pathway to Bitcoin for the Islamic world.” The company hailed the move as one that “gives a clear zone bulls need to fully regain for the next impulse higher,” adding on social media: “Al Abraaj just became the first public company in the Middle East to adopt a Bitcoin treasury strategy. We’re stacking sats for real.” To implement the strategy, Al Abraaj has partnered with New York–based merchant bank 10X Capital. The two firms said they will pursue additional capital raises so the restaurant chain can “increase the units of Bitcoin per share,” mirroring the playbook pioneered by MicroStrategy in the United States and, more recently, by Japan’s Metaplanet. 10X Capital is also structuring a separate $710 million vehicle for Nakamoto–the company founded by Trump advisor and BTC Inc. CEO David Bailey–it hopes to list on Nasdaq under the ticker KDLY, positioning it as what executives call “the largest aggregation platform for companies launching Bitcoin treasury strategies.” Management emphasised its determination to satisfy Islamic-finance mandates. Al Abraaj described BTC as “an innovation that can be delivered in a manner consistent with Sharia principles,” and said the partnership with 10X Capital is intended to “open Bitcoin access to…

---

Filed under: News - @ May 16, 2025 4:19 am