Al Abraaj Group Shakes Up Middle East Finance: First Public Company to Bet Big on Bitcoin!

Bahrain's Bold Move into Crypto

Hold onto your hats, folks! Bahrain's Al Abraaj Group just made history as the first public company in the Middle East to dive headfirst into Bitcoin, snagging 5 BTC to kick things off. And guess what? They're not stopping there—they've got their sights set on gobbling up even more Bitcoin as part of their sizzling new long-term strategy.

Leading the Charge

In a fiery press release dropped on Thursday, Abdullah Isa, the head honcho of Al Abraaj's Bitcoin Treasury Committee, declared that this move is all about their "forward-looking approach and commitment to increasing and maximizing shareholder value." No kidding, they're all in!

"We believe that Bitcoin will play a central role in the future of finance, and we are pleased to be at the forefront of this shift in the Kingdom of Bahrain," Isa exclaimed.

Abdullah Isa

Teaming Up for More Crypto Action

To turbocharge their Bitcoin strategy, Al Abraaj Group is joining forces with New York's 10X Capital. They're not just stopping at 5 BTC; they're planning to raise more cash to keep the Bitcoin train rolling and boost the number of BTC units linked to each share.

Hans Thomas, the big boss at 10X Capital, is stoked about the partnership. He says that with Bitcoin now on the balance sheet, "anyone in the Gulf Cooperation Council with a brokerage account" can jump on the crypto bandwagon through a publicly traded stock. And that's not all—Al Abraaj is also eyeing Shariah-compliant financial tools to open up Bitcoin to the Islamic world "in a legitimate way."

By the Book

Al Abraaj isn't just winging it; they've done their homework. The company made it clear that this bold move followed thorough internal reviews and is fully compliant with the Central Bank of Bahrain's regulations. They're playing it smart and playing to win!