AlAbraaj Restaurants Group, a publicly listed hospitality company on the Bahrain Bourse, has announced the integration of Bitcoin (BTC) into its corporate treasury.
The move positions AlAbraaj as the first listed company in the Gulf Cooperation Council (GCC) and the broader Middle East to embrace a dedicated Bitcoin reserve strategy. With an initial purchase of 5 BTC, the firm signals its ambitions to follow in the footsteps of global corporates like MicroStrategy and Metaplanet.
AlAbraaj Restaurants Group has partnered with 10X Capital
Central to AlAbraaj’s initiative is its collaboration with New York–based investment firm 10X Capital. 10X Capital, led by CEO Hans Thomas, brings deep expertise in managing digital asset vaults for public entities.
Having advised Nakamoto Group on its record-setting $710 million fundraising, 10X Capital will guide AlAbraaj through subsequent Bitcoin acquisitions and help architect robust treasury-management frameworks.
Under this partnership, AlAbraaj plans to raise additional capital aimed specifically at boosting its Bitcoin holdings and increasing the number of Bitcoins allocated per share.
Emulating global treasury leaders
By integrating Bitcoin in its treasury, AlAbraaj’s leadership has expressly drawn inspiration from MicroStrategy, which rebranded to Strategy, and other high-profile corporate adopters such as Tesla.
Abdullah Isa, chair of AlAbraaj’s Bitcoin Treasury Committee, emphasized the company’s intent to mirror MicroStrategy’s long-term capital strategy. He stated, “Our initiative to become a Bitcoin treasury company reflects our forward-looking approach and our commitment to maximizing share value.”
With 2024 EBITDA reported at $12.5 million and maintaining profitability, AlAbraaj views Bitcoin as a strategic complement to its earnings, offering potential upside in an evolving digital-asset landscape.
AlAbraaj will offer sharia-compliant access to Bitcoin
A distinctive aspect of AlAbraaj’s plan is its focus on Sharia compliance. Recognizing the importance of adhering to Islamic finance principles, the company will work to develop a suite of instruments enabling investors across Bahrain, Saudi Arabia, the UAE, Kuwait, Qatar, and Oman to gain legitimate and secure exposure to Bitcoin.
By structuring Bitcoin investments in accordance with regulatory guidelines established by the Central Bank of Bahrain, AlAbraaj seeks to bridge cultural and religious considerations with cutting-edge financial innovation.
The restaurants group has also outlined a comprehensive governance framework to oversee its Bitcoin reserves. A dedicated Bitcoin committee, comprising seasoned portfolio managers and global market experts, will monitor risk, audit transactions, and report regularly to stakeholders.
Custody arrangements will leverage institutional-grade vaults managed by 10X Capital, ensuring the highest levels of security and regulatory compliance. Through transparent disclosures and rigorous internal controls, AlAbraaj aims to set a benchmark for digital-asset governance in the region.
With the Gulf Cooperation Council boasting a combined GDP exceeding $2.2 trillion and sovereign-wealth holdings of over $6 trillion, the launch of a public, Bitcoin-backed stock signals a maturation of the region’s capital markets.
Hans Thomas noted that Bahrain’s progressive regulatory stance has cemented its leadership in digital-asset adoption, allowing retail and institutional investors alike to participate via a listed equity.
Looking ahead, AlAbraaj plans to scale its Bitcoin reserves in line with market developments and investor demand, potentially catalyzing broader corporate interest in digital-asset treasury strategies across the Middle East.
