Al Abraaj Group Integrates Bitcoin into Financial Strategy

According to PANews, Al Abraaj Group, a company listed on the Bahrain Stock Exchange, has announced the acquisition of five bitcoins as part of its balance sheet. This move marks the company as the first publicly traded entity in Bahrain, the Gulf Cooperation Council (GCC), and the Middle East to incorporate bitcoin as a treasury asset. The group has also revealed plans to collaborate with 10X Capital to continue purchasing bitcoin for its treasury. Al Abraaj intends to implement stringent custody, portfolio risk management, and governance policies to oversee its bitcoin holdings.