In a groundbreaking move for the region, Bahrain-based Al Abraaj Restaurants Group has become the first publicly listed company in the Middle East to adopt a Bitcoin treasury strategy.
Bahrain-based restaurant chain Al Abraaj Restaurants Group has become the first publicly listed company in the Middle East to adopt a Bitcoin treasury strategy, as announced by the company on X (formerly Twitter).
This move marks a significant milestone for the region, which has been relatively slow to adopt cryptocurrencies. However, recent government initiatives and a burgeoning startup ecosystem are quickly changing the landscape.
The company paid tribute to MicroStrategy’s Michael Saylor for his inspiration in a Bitcoin treasury strategy.
“A big shout out to the legend Michael Saylor - your laser-eyed faith lit the way.
Al Abraaj becomes the first public company in the Middle East to adopt a Bitcoin treasury strategy.
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The company’s Chairman Abdullah Isa added:
“Our move to become a Bitcoin company reflects our long-term vision and commitment to maximizing shareholder value. We believe that BTC will play a central role in the future of finance. We are grateful for the support of MicroStrategy in helping us to build the Middle East MicroStrategy.”
This strategic shift not only aligns Al Abraaj with a growing number of global firms such as Tesla and Square who have been adopting Bitcoin for treasury diversification but also positions Bahrain as a pioneering force in the region’s evolving fintech landscape.
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