In a bold move that signals the growing confluence of cryptocurrency and traditional finance in the Middle East, Bahrain-based AlAbraaj Restaurants Group has announced its adoption of a Bitcoin treasury strategy. Partnering with investment firm 10X Capital, the hospitality company is set to allocate a significant portion of its corporate treasury to Bitcoin, following in the footsteps of major players like MicroStrategy. The announcement, made on May 15, 2025, underscores AlAbraaj’s commitment to positioning itself as a leader in the region’s burgeoning crypto scene.
A New Chapter in Middle Eastern Finance
With a market cap of $24.2 million, AlAbraaj’s pivot to Bitcoin is more than a mere financial maneuver—it’s a statement of intent. Abdullah Isa, head of AlAbraaj’s Bitcoin Treasury Committee, expressed the company’s vision: “Our initiative to become a Bitcoin treasury company reflects our forward-looking approach and our commitment to enhancing shareholder value.” Isa went on to highlight Bitcoin’s potential in shaping the future of finance, drawing inspiration from Strategy, the corporate giant formerly known as MicroStrategy. This follows a pattern of institutional adoption, which we detailed in our analysis of corporate treasury investments.
According to sources, AlAbraaj has already made an initial investment of 5 BTC and plans to continue accumulating more. By prioritizing Bitcoin as its primary reserve asset, the company aims to solidify its position as the ‘MicroStrategy of the Middle East.’ This move is not just about financial gain; it’s about leading a charge that could redefine how regional corporations view digital assets.
Sharia-Compliant Innovations and Strategic Partnerships
AlAbraaj’s strategy is not just about acquiring Bitcoin; it’s about doing so in a way that aligns with Islamic financial principles. The company is exploring the development of Sharia-compliant financial instruments to cater to the Islamic market, a move that could significantly expand its reach. By tapping into this niche, AlAbraaj hopes to offer a more inclusive financial product to a market often overlooked by conventional crypto offerings.
The partnership with 10X Capital is pivotal in navigating this new terrain. Known for its role in advising Nakamoto during its $710 million raise, 10X Capital’s expertise in digital asset treasury management is expected to be instrumental. CEO Hans Thomas emphasized the strategic importance of this alliance: “The GCC has a combined GDP of over $2.2 trillion…yet until now, lacked a public Bitcoin treasury company like MicroStrategy.” This strategic move mirrors efforts by other companies, such as Metaplanet, which recently registered a U.S. treasury arm to grow its Bitcoin reserve strategy, as explored in our recent coverage.
Implications for the Future
AlAbraaj’s decision to dive into Bitcoin is reflective of a broader trend in the region. As the Gulf Cooperation Council (GCC) countries seek to diversify their economies beyond oil, digital assets present a promising avenue. The GCC’s substantial sovereign wealth, combined with AlAbraaj’s innovative approach, could set a precedent for other companies in the region.
However, the path forward is not without its challenges. The volatility of Bitcoin and regulatory uncertainties remain significant hurdles. Yet, the potential rewards seem to outweigh the risks, at least for now. AlAbraaj’s move raises questions about whether more companies in the Middle East will follow suit, embracing Bitcoin as a strategic asset.
As we look ahead, one thing is clear: AlAbraaj’s venture into Bitcoin is more than a financial strategy—it’s a visionary leap that could reshape the financial landscape of the Middle East. While the company navigates this uncharted territory, the world will be watching. Will other regional players join the Bitcoin bandwagon, or will they wait and see how AlAbraaj’s gamble plays out? Only time will tell, but for now, the eyes of the crypto world are firmly set on Bahrain.
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Further Reading
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- Metaplanet Issues $25M Bonds to Buy More Bitcoin
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
