Bitcoin Updates: UAE’s Holdings in Bitcoin Triple as the Gulf Region Adopts Digital Gold
- Abu Dhabi's ADIC and Mubadala acquired 16M shares in BlackRock's IBIT ETF, tripling ADIC's stake to $518M, positioning UAE as a top Bitcoin holder via ETFs. - The investment occurred before a 20% Bitcoin price drop, with ADIC emphasizing Bitcoin's role as a "digital gold" for portfolio diversification. - UAE's strategy aligns with Gulf trends, including Dubai's Digital Dirham and Saudi Arabia's blockchain partnerships, as sovereign funds increasingly allocate to crypto assets. - Despite institutional int
The Abu Dhabi Investment Council (ADIC) and its parent organization, Mubadala Investment Co., have together purchased more than 16 million shares of BlackRock's
The iShares Bitcoin Trust ETF, which leads the crypto ETF market with assets exceeding $70 billion,
The UAE’s move into Bitcoin is in line with both regional and international trends. Sovereign wealth funds and governments are increasingly channeling investments into crypto assets as part of their diversification efforts.
ADIC’s investment also demonstrates Abu Dhabi’s goal of becoming a center for cryptocurrency. The emirate has launched the Digital Dirham—a stablecoin backed by the central bank—and established a regulatory system to attract crypto businesses. Mubadala’s earlier $2 billion Binance investment further signals the region’s enthusiasm for digital assets. However,
Market experts point out that ADIC’s sizable investment—within a $1.7 trillion asset portfolio—reflects trust in regulated crypto offerings.
Even with the UAE’s optimistic outlook,
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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