Bahrain -based publicly listed company listed with a $ 24.22 million market cap has adopted a Bitcoin treasury strategy in collaboration with the Investment Firm 10x Capital.
According to one May 15 announcementAlabraaj Restaurant Group cooperated with 10x Capital to adopt a Bitcoin (Btc) Treasury approach similar to BTC holder’s leading approach, formerly known as microstrategy. The firm also aims to explore Sharia’s access to Bitcoin for the Islamic world.
“Our initiative to become a Bitcoin treasury company reflects our forward procedure and our commitment to enhancing the shareholder value,” said Abdullah Isa, head of the Alabraaj’s Bitcoin Treasury Committee.
Isa added that the company believes that “Bitcoin will play a major role in the future of finance.” He clearly mentioned the heritage of approach as an inspiration:
“We look forward to developing ‘Middle East’ microstrategy ‘with their support.”
Related: Try to be Bitcoin Treasury Company
A picture shared by the company with X Shut up A meeting between a company representative and microstrategy chairman Michael Saylor.
The company makes the initial purchase of Bitcoin
Alabraaj Restaurant Group made an initial investment of 5 BTC and announced the intent to continue to accumulate more. The decision was a reported response to the emerging financial scene and the growing interest in the institutional.
The firm plans to provide a significant portion of its corporate treasury to Bitcoin, making it the main reserve owner. It said it was proud of self -profit, with $ 12.5 million of income before the interest, tax, coherence and affiliation reported in 2024.
The company also hopes to strengthen its portfolio and expand the financial industry. As part of this initiative, it plans to develop its own financial instruments following Sharia to tap the Islamic market.
Related: Blockchain is the best Fintech to ensure Sharia Ethics – Web3 Exec
Na -back by 10x capital
The firm’s collaboration with the 10x capital is enjoying their introduction to the Bitcoin market and managing the Treasury’s digital asset. The same company advised Nakamoto to the previous $ 710 million increase.
On May 12, the health care provider was kind Compiled with Bitcoin-Native Holding Company Nakamoto Holdings To produce a BTC Treasury named Nakamoto. The last company was founded by David Bailey, a crypto advisor to US president Donald Trump.
The Alabraaj Restaurant Group also hopes to rely on the 10X Capital to help it raise more capital to get further Bitcoin, increasing BTC-per-share ratio for investors. 10x capital CEO Hans Thomas has highlights that the deal provides potential exposure to Bitcoin throughout the Gulf Cooperation Council:
“The GCC has a combined GDP of over $ 2.2 trillion – larger than Canada, Russia, Italy, Brazil, Australia, South Korea, or Spain – and the Sovereign wealth that exceeds $ 6 trillion, but to this day, a public Treasury company of Bitcoin like Microstrategy has been missing.”
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