Bahrain-based Al Abraaj Restaurants Group B.S.C. has purchased 5 Bitcoins for its balance sheet. The publicly listed company on the Bahrain Bourse, trading under the ABRAAJ ticker, says it is following the lead of Michael Saylor and Strategy’s continuous investment in Bitcoin.
The company states it wants to become the Strategy of the Middle East.
According to the news, Al Abraaj Restaurants Group will continue to acquire Bitcoin as a treasury asset, starting with 5 Bitcoins. The company noted, “Al Abraaj will build on this initial purchase and begin allocating a significant portion of its corporate treasury into Bitcoin. Al Abraaj considers Bitcoin to be its reserve treasury asset.”
Al Abraaj is a profitable company, with a 2024 EBITDA of $12.5 million. 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.
شكراً للملهم الكبير مايكل سيلر @saylor
— AlAbraaj Restaurants Group (@AbraajRestGroup) May 14, 2025
مجموعة مطاعم الأبراج أصبحت أول شركة مدرجة علنًا في الشرق الأوسط تتبنى استراتيجية خزينة بيتكوين.@davidfbailey@10xcapitalusa@bitcoinmagazine@metaplanet_jp@bitcoinforcorps@btcismoney pic.twitter.com/V4U6PEEEVV
Al Abraaj partners with U.S.-based 10X Capital
The company has partnered with 10X Capital, an NYC-based investment firm with a track record of managing treasury assets for publicly listed companies, and advising and capitalizing listed Bitcoin treasury companies. In collaboration with 10X, the Al Abraaj plans to raise capital to acquire additional Bitcoin, with a goal of maximizing Bitcoin per share.
Abdulla Isa, Chairman of the Bitcoin Treasury Committee of Al Abraaj Group, stated, “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.”
Hans Thomas notes, “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. 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.”
Al Abraaj Restaurants Group B.S.C. says it will implement robust custody, portfolio risk management and governance policies to oversee its Bitcoin holdings, including creating a Bitcoin Committee that will consist of experienced Bitcoin investors and portfolio managers and global capital markets professionals.
The company intends to provide regular updates to shareholders and stakeholders regarding its Bitcoin-related activities.
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