Bahrain-based publicly listed catering company with a market capitalization of $ 24.22 million has adopted a Bitcoin treasury strategy in cooperation with the 10x capital investment company.
According to an announcement of May 15, the Alabraaj Restaurants Group has teamed up with 10x capital to adopt a Bitcoin -Treasing strategy (BTC) that is analogous to the highest strategy for company -BtC owners, which is previously generally known as a microstrategy. The company also goals to explore Sharia-compliant access to Bitcoin for the Islamic world.
“Our initiative to grow to be a Bitcoin Treasury Company reflects our future-oriented approach and commitment to enhance shareholder value,” said Abdullah Isa, head of the Bitcoin Treasury Committee from Alabraaj.
ISA added that the corporate believes that “Bitcoin will play a central role in the longer term of finance”. He expressly cited the legacy of the strategy as inspiration:
“We sit up for constructing the 'Microstrategy of the Middle East' along with your support.”
A photograph shared by the corporate on X shows a gathering between an organization representative and Microstrategy Chairman Michael Saylor.
Source: Alabraaj Restaurants Group
The company makes the primary Bitcoin purchase
The Alabraaj Restaurants Group made a primary investment of 5 BTC and announced the intention of further collecting. The decision is reportedly a response to the developing financial landscape and the growing institutional interest.
The company plans to assign Bitcoin to a major a part of its company Ministry of Finance, which makes it its primary reserve power value. It was proud to be profitable with $ 12.5 million gain before interest, taxes, depreciation and amortization in 2024.
The company also hopes to strengthen its portfolio and expand into the financial industry. As a part of this initiative, it plans to develop your individual Sharia-compliant financial instruments to open up the Islamic market.
Supported by 10x capital
The company's partnership with 10x capital facilitates its introduction to the Bitcoin market and digital asset management management. In its recent increase, Nakamoto advised the identical company by $ 710 million.
On May 12, the provider of Healthcare Services Kindlymd merged with the Bitcoin Native Holding Company Nakamoto Holdings to construct a BTC Ministry of Finance called Nakamoto. The latter company was founded by David Bailey, a crypto of the US President Donald Trump.
The Alabraaj Restaurants Group also hopes to depend on 10x capital to extend more capital for the acquisition of additional Bitcoin and increase the BTC-Per-Share ratio for investors. Hans Thomas, CEO of 10x Capital, emphasized that the deal offers potential Bitcoin Bitcoin exposure to your entire Gulf Cooperation Council:
“The GCC has a combined GDP of over 2.2 trillion dollars -Larger as Canada, Russia, Italy, Brazil, Australia, South Korea or Spain -and sovereign wealth of 6 billion dollars, to date a public Bitcoin treasure company like MicroStrategy has been missing.”
