๐จ Big Move from the UAE: $740M in Bitcoin Reserves Revealed! ๐ฆ๐ช๐ฐ
Fresh data from blockchain intelligence firm Arkham shows that the United Arab Emirates government is holding around 6,300 BTC โ valued at nearly $740 million. ๐คฏ
Unlike most sovereign holders that purchase directly from the market, these reserves were mined through Citadel Miningโs operations.
๐น Citadel โ majority-owned by the UAEโs Royal Group (via International Holding Company) โ operates a massive 80,000 mยฒ Bitcoin mining facility on Al Reem Island, Abu Dhabi, launched in 2022.
๐น To date, Citadel has mined ~9,300 BTC, with 6,300 BTC still in government-controlled wallets.
๐น This positions the UAE as the worldโs 4th-largest sovereign Bitcoin holder, alongside the US & UK.
๐น Oversight comes from Sheikh Tahnoon bin Zayed Al Nahyan, a key member of Abu Dhabiโs royal family.
๐ Arkham also highlights Phoenix Group, another UAE-based mining firm, which holds around $3.2M in BTC.
๐ก Current BTC price: $BTC
110,202.77 (-2.1%)
The UAE is clearly signaling its long-term bet on digital assets through state-backed mining rather than open-market purchases โ a unique path in the global crypto adoption race. ๐
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