Latest news with #AbdallaIsa
Gulf Insider
22-05-2025
- Business
- Gulf Insider
Abraaj Restaurants Becomes First Bitcoin Treasury Company
Today it was announced that Al Abraaj Restaurants Group B.S.C. has become the first publicly traded company in the region to adopt Bitcoin as a treasury reserve asset. The Bahrain-based hospitality firm announced today it has acquired 5 Bitcoin for its balance sheet, with plans to significantly increase its allocation over time. JUST IN: 🇧🇭 Al Abraaj Restaurants Group becomes first publicly traded company in middle east to purchase #Bitcoin as a treasury reserve asset 💥 — Bitcoin Magazine (@BitcoinMagazine) May 19, 2025 'Our initiative towards becoming a Bitcoin Treasury Company reflects our forward-thinking approach and dedication to maximizing shareholder value,' said Abdulla Isa, Chairman of the Bitcoin Treasury Committee at Al Abraaj. 'We believe that Bitcoin will play a pivotal role in the future of finance, and we are excited to be at the forefront of this transformation in the Kingdom of Bahrain. 10X is a proven leader in advising and bringing capital to listed Bitcoin Treasury Companies, and we welcome their partnership in helping us build the MicroStrategy of the Middle East.' The decision makes Abraaj not only the first in Bahrain, but also in the GCC and wider Middle East, to publicly hold Bitcoin on its balance sheet. The investment is a direct response to growing institutional interest in Bitcoin and comes amid what appears to be a regional shift toward digital assets. Abraaj's strategic partner in the transition is 10X Capital, a New York-based investment firm with a strong track record in digital asset treasury management. 10X previously advised companies like Nakamoto on its $710 million Bitcoin-focused financing round. 'I'd like to congratulate Abdalla Isa and the team at Al Abraaj for adopting Bitcoin at the corporate treasury level, finally enabling anyone in the GCC with a brokerage account to gain Bitcoin exposure,' said Hans Thomas, CEO of 10X Capital. 'Bahrain continues to be a leader in the Middle East in Bitcoin adoption, backed by a forward-thinking regulatory framework.' Thomas added, 'The GCC, with a combined GDP of $2.2 trillion and over $6 trillion in sovereign wealth funds, has until now lacked a publicly listed Bitcoin treasury company like Strategy, Tesla, or Metaplanet. That changes today with ABRAAJ's historic Bitcoin purchase.' Abraaj said it will continue to work under the regulatory oversight of the Central Bank of Bahrain (CBB) and has pledged full compliance with all digital asset transaction laws. The company will adopt robust custody, risk management, and governance protocols for its Bitcoin holdings. Disclosure: Nakamoto is in partnership with Bitcoin Magazine's parent company BTC Inc to build the first global network of Bitcoin treasury companies, where BTC Inc provides certain marketing services to Nakamoto. More information on this can be found here . Also read: Bitcoin Jumps To New All-Time High, Surpassing Prior Record In January
Biz Bahrain
16-05-2025
- Business
- Biz Bahrain
Al Abraaj Restaurants Group becomes the first Bitcoin Treasury Company in the Middle East
Al Abraaj Restaurants Group B.S.C. (Ticker: ABRAAJ) ('Company'), a public listed company on the Bahrain Bourse, is pleased to announce that it has purchased Bitcoin for its balance sheet, becoming the first publicly traded company in the Kingdom of Bahrain, the Gulf Cooperation Council ('GCC'), and the Middle East to acquire Bitcoin as a treasury asset. This initiative marks a significant step in the company's commitment to innovation and diversification. Al Abraaj has acquired an initial amount of 5 Bitcoin. In alignment with the evolving financial landscape and the growing institutional interest in Bitcoin, Al Abraaj will build on this initial purchase and begin allocating a significant portion of its corporate treasury into Bitcoin. Al Abraaj considers Bitcoin to be its reserve treasury asset. Al Abraaj is a profitable company, with 2024 EBITDA of USD $12.5 million. This move is designed to enhance the company's asset portfolio and capitalize on emerging opportunities within the capital markets. Al Abraaj aims to innovate with shari'a compliant financial instruments to give the Islamic world broader exposure to Bitcoin. The Company has partnered with 10X Capital, the NYC-based investment firm with a track record of managing treasury assets for publicly listed companies, and advising and capitalizing listed Bitcoin Treasury Companies, including most recently advising Nakamoto on its $710M financing (Nasdaq:KDLY), the largest capital raise to launch a Bitcoin Treasury Company and the largest private placement for any public bitcoin-related transaction ever. In collaboration with 10X, the Company plans to raise capital to acquire additional Bitcoin, with a goal of maximizing Bitcoin per share. The decision to begin purchasing Bitcoin as a treasury asset follows comprehensive due diligence and aligns with the innovative regulatory framework established by the Central Bank of Bahrain (CBB). Al Abraaj Restaurants Group B.S.C. is committed to full compliance with all applicable laws and regulations, including those pertaining to digital asset transactions and disclosures. 'Our initiative towards becoming a Bitcoin Treasury Company reflects our forward-thinking approach and dedication to maximizing shareholder value,' said Abdulla Isa, Chairman of the Bitcoin Treasury Committee of Al Abraaj Restaurants Group B.S.C.. 'We believe that Bitcoin will play a pivotal role in the future of finance, and we are excited to be at the forefront of this transformation in the Kingdom of Bahrain. 10X is a proven leader in advising and bringing capital to listed Bitcoin Treasury Companies, and we welcome their partnership in helping us build the MicroStrategy of the Middle East.' 'I'd like to congratulate Abdalla Isa and the team at Al Abraaj for adopting Bitcoin at the corporate treasury level, finally enabling anyone in the GCC with a brokerage account to gain Bitcoin exposure,' said Hans Thomas, CEO of 10X Capital. 'Bahrain continues to be a leader in the Middle East in Bitcoin adoption, backed by a forward-thinking regulatory framework.' Mr. Thomas added, 'The GCC, with a combined GDP of $2.2 trillion—larger than Canada, Russia, Italy, Brazil, Australia, South Korea, or Spain—over $6 trillion in sovereign wealth funds, and a population of just 57.6 million, has until now lacked a publicly listed Bitcoin treasury company like Strategy (Nasdaq: MSTR), Tesla (Nasdaq: TSLA), or Metaplanet (Tokyo: 3350.T). That changes today with ABRAAJ's historic Bitcoin purchase, giving investors across Bahrain, Saudi Arabia, UAE, Kuwait, Qatar, and Oman access to Bitcoin through a publicly traded stock. In fact, almost anyone in the world can buy ABRAAJ stock by registering with the Bahrain Bourse.' Al Abraaj Restaurants Group B.S.C. will implement robust custody, portfolio risk management and governance policies to oversee its Bitcoin holdings, including by creating a Bitcoin Committee that will consist of experienced Bitcoin investors and portfolio managers and global capital markets experts. The company intends to provide regular updates to shareholders and stakeholders regarding its Bitcoin-related activities. This strategic initiative underscores Al Abraaj Restaurants Group B.S.C.'s commitment to innovation, diversification, and long-term growth. The company looks forward to contributing to the development of Bahrain's digital economy and establishing its position as a leader in the region's financial sector.
