Abraaj Restaurants Becomes First Bitcoin Treasury Company In The Middle East

Today this has been announced ABRAAJ BSC Restaurants Collection The first circulating company in the area has become adopting Bitcoin as the origin of the cabinet reserve. Bahrain -based hospitality company Declare Today it has acquired 5 Bitcoin for public budgets, with plans to increase their allocation over time.

Abdullah Issa, head of the Treasury Committee in Bitcoin in the Abraj family, said: “Our initiative is to become Bitcoin to the Ministry of Treasury to reflect our approach to thinking forward and our dedication to increasing the value of the shareholders.” “We believe that Bitcoin will play a pivotal role in the future of financing, and we are excited to be at the forefront of this shift in the Kingdom of Bahrain. 10X is a leader installed in advising and bringing capital to the treasury companies listed in Bitcoin, and we welcome their partnership in building the minute minute in the Middle East.”

The decision makes Abraaj not only the first in Bahrain, but also in the countries of the Gulf Cooperation Council and the broader Middle East, to publicly hold Bitcoin in its public budget. Investment is a direct response to the increasing institutional interest in Bitcoin and comes amid what appears to be a regional transformation towards digital assets.

The ABRAAJ Strategic Parties in The Transition is 10x Capital, a New York -based investment company with a busy record in Digital Asset Treasury Management. 10x previously advised companies like Nakamoto on the $ 710 million financing round.

“I would like to congratulate Abdullah Issa and the team at Al Abraaj on Bitcoin’s adoption at the corporate treasury level, and to enable anyone in the Gulf Cooperation Council with the mediation account for Bitcoin’s exposure,” said Hans Thomas, CEO of 10x Capital. “Bahrain is still a pioneer in the Middle East in the adoption of bitcoin, with the support of an organizational framework to think forward.”

Thomas added, “The Gulf Cooperation Council, with the GDP combined, is 2.2 trillion dollars and more than 6 trillion dollars of sovereign wealth boxes, so far lacked Bitcoin Treasury, which is publicly listed like Strategy, Tesla or Metaplanet.

Abraaj said that it will continue to work under the organizational supervision of the Central Bank of Bahrain (CBB) and pledged full compliance with all the digital asset transactions laws. The company will adopt nursery protocols, management and strong risks of the Bitcoin device.

Disclosure: In partnership with Bitco Magazine, BTCOIN Magazine is building the first global network of Bitcoin Treasury companies, where BTC Inc provides some marketing services to Nakamoto. More information can be found about this here.