As the number of countries adopting Bitcoin increases day by day, another one has been added to them. Accordingly, Al Abraaj has become the first public company in the Middle East to adopt the BTC treasury strategy.
The company’s move was a first for Bahrain and the entire Middle East.
Al Abraaj Restaurants Group has taken a major step by becoming the region’s first publicly traded company to add Bitcoin to its treasury reserves.
Company X shared a photo of famous Bitcoin bull Michael Saylor on its account and announced that it added Bitcoin to its treasury:
“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.”
Abdullah Isa, Chairman of AlAbraaj Bitcoin Treasury Committee, said: “Our move to become a Bitcoin company reflects our forward-looking approach and commitment to increasing shareholder value. We believe Bitcoin will play a central role in the future of finance. We look forward to building the Middle East MicroStrategy with MicroStrategy’s support.”
The fact that a company is doing this in Bahrain, a country that is working hard to become a tech-friendly hub, has been interpreted as a clear sign that the region’s mindset towards cryptocurrencies is changing.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/a-first-in-the-middle-east-we-listened-to-michael-saylor-we-bought-bitcoin-btc/