Abraaj Restaurants Group has added Bitcoin to its balance sheet, setting a first for publicly traded companies in Bahrain. The company chose 10X Capital, a U.S. investment advisory firm, to add the digital asset to its reserves.
According to a company update on X, Al Abraaj praised Michael Saylor for the influence he had by openly supporting Bitcoin. Firm Abrraj, which was listed on the Bahrain Bourse as ABRAAJ, has revealed that it is starting to add Bitcoin to its long-term treasury holdings.
10X Capital Partnership Enhances Bitcoin Strategy
The agreement with 10X Capital, a New York company specializing in Bitcoin, is meant to help the company gain more exposure in the Bitcoin space. The firm worked with several Bitcoin-focused parties, helping complete a \$710 million capital raise for Nakamoto, the most prominent private placement in crypto to date.
Al Abraaj’s move adds the company to a small roster of global companies holding Bitcoin on their balance sheets. MicroStrategy, located in the U.S., and Metaplanet in Japan have pointed to Bitcoin as a valuable resource for building reserves.
Bitcoin per Share to Serve as New Financial Indicator
As a strategy, the company will use its Bitcoin assets as a significant performance marker by creating Bitcoin-per-share for investors. This method suggests that treasury thinking is evolving in the area.
Al Abraaj also plans to provide an investment product that meets Shariah’s requirements. We aim to offer Islamic investors a way to invest in Bitcoin using regulated and compliant financial services. This change reflects investors in the Gulf’s desire for more options to invest in crypto legally.
Regional Response to Al Abraaj’s Bitcoin Adoption
There is already talk that this company’s decision may be a growing point for Bitcoin acceptance in the Middle East. The Gulf region is paying more attention to the rise of digital assets globally, mainly due to increased regulation in the UAE and Saudi Arabia.
According to Alva, Al Abraaj’s action represents a clear sign of trust in Bitcoin from institutions. According to user Kanhiya Chauhan on social media, these developments prove that Bitcoin is spreading outside of the West.
This declaration happened after the company’s successful IPO in December 2024, organized by SICO Bank. Bahrain Bourse staff and company officials held an official ceremony with a bell ringing to list the stock.
The adoption of the Bitcoin strategy by Al Abraaj puts it in a strong position to promote cryptocurrencies within the Bahraini public market. Anthony Tan’s move could encourage more companies in the Gulf to explore new ways to diversify their treasuries since inflation and currency risks remain the main concerns for investors.
