- Bahrain is part of the Gulf Cooperation Council (GCC) region.
- The investment fund is structured to provide authorized investors exposure to Bitcoin.
The first Bitcoin-linked Structured investment in the Gulf Cooperation Council (GCC) has been launched by the National Bank of Bahrain (NBB) in partnership with APR Digital. The flagship cryptocurrency will be available to approved investors via this fund. At the same time, this is fantastic news for Bitcoin’s acceptance in Bahrain, which is already one of the top nations in terms of BTC holdings.
Bahrain is part of the Gulf Cooperation Council (GCC) region, which also includes Qatar, Saudi Arabia, Oman, Kuwait, and the United Arab Emirates. The NBB has just formed the first Bitcoin investment fund in this region. The investment fund is structured to provide authorized investors exposure to Bitcoin (BTC). Which may help protect fiat currencies from depreciation, according to the IBS intelligence assessment.
Huge Step Forward
Moreover, Hisham AlKurdi, Group Chief Executive, Markets & Client Solutions at the National Bank of Bahrain, expressed pride in introducing this exclusive structured investment that combines the allure of digital asset exposure with the assurance of capital protection.
Furthermore, the National Bank of Bahrain is planning to expand its services for wealthy clientele, including investment options with high growth potential. And the introduction of this Bitcoin investment fund fits in with that strategy. Also, Bitcoin has the potential to surpass all other currencies in value, and the Bank is aware of this.
The decision to establish a Bitcoin investment fund by the National Bank of Bahrain is certainly a huge step forward. Especially, for Bitcoin’s acceptance in Bahrain. Bahrain is the fifth government with the greatest holding of Bitcoins, according to statistics from Bitcoin Treasuries. Holding 13,166 BTC ($844 million) is the present position of the nation.
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Source: https://thenewscrypto.com/national-bank-of-bahrain-nbb-unveils-bitcoin-investment-fund/