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AlAbraaj Restaurants, based in Bahrain, has adopted a Bitcoin treasury strategy. ✨🔸✨🔸✨🔸✨🔸✨🔸✨
AlAbraaj Restaurants Group, a publicly traded Bahraini catering company, has adopted a Bitcoin treasury strategy with plans to expand into Sharia-compliant finance.
A publicly traded catering company headquartered in Bahrain, with a market capitalization of USD 24.2 million, has adopted a Bitcoin treasury strategy in collaboration with investment firm 10X Capital.
As announced on May 15, AlAbraaj Restaurants Group partnered with 10X Capital to adopt a Bitcoin (BTC) treasury strategy similar to that of the BTC Strategy holding company (formerly known as MicroStrategy). The company also aims to explore access to Bitcoin in accordance with Sharia for the Islamic world.
"Our initiative to become a Bitcoin treasury company reflects our forward-looking approach and our commitment to increasing shareholder value," said Abdullah Isa, head of AlAbraaj's Bitcoin Treasury Committee.
Isa added that the company believes "Bitcoin will play a central role in the future of finance." He cited the legacy of Strategy as inspiration:
"We hope to build the 'MicroStrategy of the Middle East' with your support."
A photo shared by the company on X shows a meeting between a company representative and Strategy's president, Michael Saylor.