Manama, Kingdom of Bahrain, May 15, 2025 – Al Abraaj Restaurants Group B.S.C. is pleased to announce that it has purchased Bitcoin for its balance sheet, becoming the first publicly traded company in the Kingdom of Bahrain, the Gulf Cooperation Council (“GCC”), and the Middle East to acquire Bitcoin as a treasury asset. This initiative marks a significant step in the company's commitment to innovation and diversification.
Al Abraaj has acquired an initial amount of 5 Bitcoin. In alignment with the evolving financial landscape and the growing institutional interest in Bitcoin, Al Abraaj will build on this initial purchase and allocate a significant portion of its treasury into Bitcoin.
This move is designed to enhance the company's asset portfolio and capitalize on emerging opportunities within the capital markets. Al Abraaj aims to innovate with shari'a compliant financial instruments to give the Islamic world broader exposure to Bitcoin.
The Company partnered with 10X Capital, an investment firm with a track record of managing assets for publicly listed companies, and advising and capitalizing listed Bitcoin Treasury Companies, including most recently advising Nakamoto on its $710M financing (Nasdaq:KDLY).
The decision to begin purchasing Bitcoin as a treasury asset follows comprehensive due diligence and aligns with the innovative regulatory framework established by the Central Bank of Bahrain (CBB). Al Abraaj Restaurants Group B.S.C. is committed to full compliance with all applicable laws and regulations, including those pertaining to digital asset transactions and disclosures.
Our initiative towards becoming a Bitcoin Treasury Company reflects our forward-thinking approach and dedication to maximizing shareholder value. We believe that Bitcoin will play a pivotal role in the future of finance, and we are excited to be at the forefront of this transformation in the Kingdom of Bahrain. 10X is a proven leader in advising and bringing capital to listed Bitcoin Treasury Companies, and we welcome their partnership in helping us build the MicroStrategy of the Middle East.
said Abdulla Isa, Chairman of the Bitcoin Treasury Committee of Al Abraaj Restaurants Group B.S.C.
I’d like to congratulate Abdalla Isa and the team at Al Abraaj for adopting Bitcoin at the corporate treasury level, finally enabling anyone in the GCC with a brokerage account to gain Bitcoin exposure. Bahrain continues to be a leader in the Middle East in Bitcoin adoption, backed by a forward-thinking regulatory framework.” Mr. Thomas added, “The GCC, with a combined GDP of $2.2 trillion—larger than Canada, Russia, Italy, Brazil, Australia, South Korea, or Spain—over $6 trillion in sovereign wealth funds, and a population of just 57.6 million, has until now lacked a publicly listed Bitcoin treasury company like Strategy (Nasdaq: MSTR), Tesla (Nasdaq: TSLA), or Metaplanet (Tokyo: 3350.T). That changes today with ABRAAJ’s historic Bitcoin purchase, giving investors across Bahrain, Saudi Arabia, UAE, Kuwait, Qatar, and Oman access to Bitcoin through a publicly traded stock. In fact, almost anyone in the world can buy ABRAAJ stock by registering with the Bahrain Bourse.
said Hans Thomas, CEO of 10X Capital
The company will implement robust custody, portfolio risk management and governance policies to oversee its Bitcoin holdings. Regular updates will be provided to shareholders and stakeholders regarding its Bitcoin-related activities.
This initiative underscores Al Abraaj Restaurants Group B.S.C.'s commitment to innovation, diversification, and long-term growth. The company looks forward to contributing to the development of Bahrain's digital economy and establishing its position as a leader in the region's financial sector.
About Al Abraaj Restaurants Group B.S.C.
Al Abraaj Restaurants Group B.S.C. is a 38-year old, profitable hospitality firm listed on the Bahrain Bourse. The company is dedicated to delivering value to its shareholders through strategic investments and innovative financial solutions.
Official Twitter: @AbraajRestGroup
About 10X Capital
10X Capital is a New York-based investment firm, and one of the most active technology investors globally, aligning Wall Street with Silicon Valley, and beyond. Founded by pioneering digital currency and fintech entrepreneur Hans Thomas (founding team, InternetCash), senior leadership includes Dr. Russell Read (former CIO, CalPERS, Alaska Permanent Fund, Gulf Investment Corporation), Austin Alexander (NY Bitcoin Center, Kraken), Alexander Monje (DWAC - Nasdaq:$DJT), and Max Staedtler (Goldman Sachs, Coinbase listing). With capabilities in asset management, treasury management, and investment banking, the firm takes a holistic merchant banking approach to Digital Assets Treasury Companies, to help develop capital markets strategies with global reach. 10X’s Bitcoin-related portfolio companies include Milo.io, Bitwise, Bitpay, Valkyrie (acquired by Coinshares), Makara (acquired by Betterment), PrimeBlock (acquired by Cleanspark) and Worldcoin.