Bahrain-based AlAbraaj Restaurants adopts Bitcoin treasury strategy
AlAbraaj Restaurants Group, a publicly listed Bahraini catering firm, has adopted a Bitcoin treasury strategy with plans to expand into Sharia-compliant finance.
Bahrain-based publicly listed catering company with a $24.22 million market cap has adopted a Bitcoin treasury strategy in partnership with investment firm 10X Capital.
According to a May 15 announcement, AlAbraaj Restaurants Group partnered with 10X Capital to adopt a Bitcoin (BTC) treasury strategy similar to top corporate BTC holder Strategy, previously known as MicroStrategy. The firm also aims to explore Sharia-compliant access to Bitcoin for the Islamic world.
“Our initiative to become a Bitcoin treasury company reflects our forward-looking approach and our commitment to enhancing shareholder value,” Abdullah Isa, head of AlAbraaj’s Bitcoin Treasury Committee, said.
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