{"id":129315,"date":"2025-05-15T13:16:05","date_gmt":"2025-05-15T13:16:05","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129315"},"modified":"2025-05-15T13:16:05","modified_gmt":"2025-05-15T13:16:05","slug":"bahrain-based-alabraaj-restaurants-adopts-bitcoin-treasury-strategy","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129315","title":{"rendered":"Bahrain-based AlAbraaj Restaurants adopts Bitcoin treasury strategy"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBahrain-based publicly listed catering company with a $24.22 million market cap has adopted a Bitcoin treasury strategy in partnership with investment firm 10X Capital.<br \/>\nAccording 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. The firm also aims to explore Sharia-compliant access to Bitcoin for the Islamic world.<br \/>\n\u201cOur initiative to become a Bitcoin treasury company reflects our forward-looking approach and our commitment to enhancing shareholder value,\u201d Abdullah Isa, head of AlAbraaj\u2019s Bitcoin Treasury Committee, said.<br \/>\nIsa added that the company believes that \u201cBitcoin will play a central role in the future of finance.\u201d He explicitly cited Strategy\u2019s legacy as an inspiration:<br \/>\n\u201cWe look forward to building the \u2018MicroStrategy of the Middle East\u2019 with their support.\u201d<br \/>\nRelated: Strive to become Bitcoin treasury company<br \/>\nA photo shared by the company on X shows a meeting between a company representative and MicroStrategy chairman Michael Saylor.<br \/>\nSource: AlAbraaj Restaurants GroupCompany makes initial Bitcoin purchase<br \/>\nAlAbraaj Restaurants Group made an initial investment of 5 BTC and announced the intention to keep accumulating more. The decision is reportedly a response to the evolving financial landscape and growing institutional interest.<br \/>\nThe firm plans to allocate a significant portion of its corporate treasury to Bitcoin, making it its primary reserve asset. It said it prides itself on being profitable, with $12.5 million of earnings before interest, taxes, depreciation and amortization reported in 2024.<br \/>\nThe company also said it hopes to strengthen its portfolio and expand to the finance industry. As part of this initiative, it plans to develop its own Sharia-compliant financial instruments to tap the Islamic market.<br \/>\nRelated: Blockchain is the best fintech to ensure Sharia ethics \u2014 Web3 exec<br \/>\nBacked by 10X Capital<br \/>\nThe firm\u2019s partnership with 10X Capital eases their introduction into the Bitcoin market and digital asset treasury management. The same company advised Nakamoto in its recent $710 million raise.<br \/>\nOn May 12, healthcare services provider KindlyMD merged with Bitcoin-native holding company Nakamoto Holdings to build a BTC treasury named Nakamoto. The latter company was founded by David Bailey, a crypto adviser to US President Donald Trump.<br \/>\nAlAbraaj Restaurants Group also hopes to rely on 10X Capital to help it raise more capital to acquire additional Bitcoin, 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:<br \/>\n\u201cThe GCC has a combined GDP of over $2.2 trillion\u2014larger than Canada, Russia, Italy, Brazil, Australia, South Korea, or Spain\u2014and sovereign wealth exceeding $6 trillion, yet until now, lacked a public Bitcoin treasury company like MicroStrategy.\u201c<br \/>\nMagazine: Rise of MicroStrategy clones, Asia dominates crypto adoption: Asia Express 2024 review<a href=\"https:\/\/cointelegraph.com\/news\/alabraaj-bitcoin-treasury-strategy-middle-east?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBahrain-based publicly listed catering company with a $24.22 million market cap has adopted a Bitcoin treasury strategy in partnership with investment firm 10X Capital. According to a May&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129315"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129315"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129315\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129315"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}