{"id":27069,"date":"2025-05-16T04:01:41","date_gmt":"2025-05-16T04:01:41","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27069"},"modified":"2025-05-16T04:01:41","modified_gmt":"2025-05-16T04:01:41","slug":"bitcoin-treasury-fever-hits-the-middle-east","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27069","title":{"rendered":"Bitcoin Treasury Fever Hits The Middle East"},"content":{"rendered":"
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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.<\/p>\n

Al Abraaj Leads MENA With Bitcoin Treasury Move<\/h2>\n

In a statement<\/a> released in Arabic, the food-services operator said it had \u201ccompleted a historic first-time purchase of Bitcoin within its institutional treasury\u201d and intends to \u201cbuild a strategic, Sharia-compliant pathway to Bitcoin for the Islamic world.\u201d The company hailed the move as one that \u201cgives a clear zone bulls need to fully regain for the next impulse higher,\u201d adding on social media: \u201cAl Abraaj just became the first public company in the Middle East to adopt a Bitcoin treasury strategy. We\u2019re stacking sats for real.\u201d<\/p>\n

To implement the strategy, Al Abraaj has partnered with New York\u2013based merchant bank 10X Capital. The two firms said they will pursue additional capital raises so the restaurant chain can \u201cincrease the units of Bitcoin per share,\u201d mirroring the playbook pioneered by MicroStrategy<\/a> in the United States and, more recently, by Japan\u2019s Metaplanet.<\/p>\n

10X Capital is also structuring a separate $710 million vehicle for Nakamoto\u2013the company founded by Trump advisor<\/a> and BTC Inc. CEO David Bailey\u2013it hopes to list on Nasdaq under the ticker KDLY, positioning it as what executives call \u201cthe largest aggregation platform for companies launching Bitcoin treasury strategies.\u201d<\/p>\n

Management emphasised its determination to satisfy Islamic-finance mandates. Al Abraaj described BTC as \u201can innovation that can be delivered in a manner consistent with Sharia principles,\u201d and said the partnership with 10X Capital is intended to \u201copen Bitcoin access to investors from Saudi Arabia, Kuwait, Qatar, Oman and beyond\u201d through the purchase of ABRAAJ shares on the Bahrain Bourse.<\/p>\n

The decision places the 38-year-old restaurant group in rarefied company. MicroStrategy (Nasdaq: MSTR) and Tesla (Nasdaq: TSLA) sparked global headlines when they began converting excess cash into Bitcoin, while Tokyo-listed Metaplanet (TSE: 3350) adopted the same playbook this spring 2024. Their stocks have been among 2024\u2019s top performers, and Al Abraaj is betting the market will reward a similar conviction trade in the Gulf.<\/p>\n

David Bailey, a partner at 10X Capital and a vocal proponent of corporate BTC adoption, hailed the deal on X: \u201cBitcoin Treasury Co \"\ud83e\udd1d\" Kingdom of Bahrain. LFGGGGGG.\u201d<\/p>\n

While the size of Al Abraaj\u2019s initial allocation was not disclosed, management signalled that further purchases are likely as it seeks to align treasury reserves with \u201ca long-term, hard-cap monetary asset.\u201d<\/p>\n

Al Abraaj commented<\/a> via X: \u201cBig shoutout to the legend Michael Saylor <\/a>\u2014 your laser-eyed conviction lit the path. Al Abraaj just became the first public company in the Middle East to adopt a Bitcoin treasury strategy. We\u2019re stacking sats for real.\u201d<\/p>\n

At press time, BTC traded at $102,732.<\/p>\n

\"BTC<\/div>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27069","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27069"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27069\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}