Bahrain-based AlAbraaj Restaurants Group adopts Bitcoin treasury strategy in partnership with 10x Capital

According to a May 15 announcement, AlAbraaj Restaurants Group partnered with 10X Capital to adopt a Bitcoin (BTC) treasury strategy similar to top corporate BTC holder Strategy (previously known as MicroStrategy).

A Bahrain-based, listed catering company is rolling out a Bitcoin treasury strategy in partnership with investment firm 10X Capital.

According to a May 15 announcement, AlAbraaj Restaurants Group partnered with 10X Capital to adopt a Bitcoin (BTC) treasury similar to top corporate BTC holder Strategy (previously known as MicroStrategy). The firm also aims to explore Sharia-compliant access to Bitcoin for the Islamic world.

“Our initiative to become a Bitcoin treasury company reflects our forward-looking approach and our commitment to enhancing shareholder value,” said Abdullah Isa, head of AlAbraaj’s Bitcoin Treasury Committee.

"We believe that Bitcoin will play a central role in the future of finance. We are drawing inspiration from the pioneering work of Strategy in this domain. As a company that is deeply respected within the Islamic world, we see an opportunity to open up access to Bitcoin to a broader audience in a way that is compliant with Sharia law," Isa added.

A photo shared by the company on X shows a meeting between a company representative and Strategy chairman Michael Saylor.

The company made an initial investment of 5 BTC and announced the intention to keep accumulating more. The decision comes in response to the evolving financial landscape and growing institutional interest.

The company plans to allocate a significant portion of its corporate treasury to Bitcoin, making it its primary reserve asset. AlAbraaj said it prides itself on being profitable, with $12.5 million of earnings before interest, taxes, depreciation and amortization reported in 2024.

The company also said it hopes to strengthen its portfolio and expand into the finance industry. As part of this initiative, it plans to develop its own Sharia-compliant financial instruments to tap the Islamic market.

The firm’s partnership with 10X Capital facilitates its smooth introduction into the Bitcoin market and digital asset treasury management. The same company advised Nakamoto in its recent $710 million raise.

On May 12, healthcare services provider KindlyMD merged with Bitcoin-native holding company Nakamoto Holdings to form a BTC treasury also named Nakamoto. The latter company was founded by David Bailey, a crypto adviser to US President Donald Trump.

AlAbraaj Restaurants Group plans to rely on 10X Capital to help it raise more capital to purchase additional Bitcoin, ultimately increasing the BTC-per-share ratio for investors. 10X Capital CEO Hans Thomas highlighted that the deal provides potential Bitcoin exposure to the entire Gulf Cooperation Council: