Al Abraaj Restaurants Group has formally added Bitcoin to its balance sheet, making it the first publicly listed company in Bahrain and the broader Middle East to do so.
The company, listed on the Bahrain Bourse under the ticker ABRAAJ, has initiated its Bitcoin treasury strategy with an initial acquisition of 5 BTC. In an X post, the firm gave a “Big shoutout” to the legend Michael Saylor, the renowned Bitcoin evangelist.
The move follows a similar path taken by Strategy, led by Saylor, which has amassed over 555,000 BTC.
According to the firm’s press release, the decision positions Al Abraaj as the first Bitcoin Treasury Company in the Kingdom of Bahrain and the Gulf Cooperation Council (GCC). The initiative reflects a broader trend of corporations adding Bitcoin as a treasury reserve asset amid ongoing changes in global financial markets.
Big shoutout to the legend Michael @saylor — your laser-eyed conviction lit the path. Al Abraaj just became the first public company in the Middle East to adopt a Bitcoin treasury strategy. We’re stacking sats for real.@davidfbailey@10xcapitalusa@bitcoinmagazine… pic.twitter.com/dhfq2ctnBM
— AlAbraaj Restaurants Group (@AbraajRestGroup) May 14, 2025
Strategic Partnership and Treasury Allocation Plans
In support of its Bitcoin strategy, Al Abraaj has partnered with 10X Capital, a New York-based investment firm known for its experience in managing treasury assets for listed Bitcoin companies. The firm previously advised on the $710 million capital raise for Nakamoto Holdings.
Working with 10X, Al Abraaj aims to raise additional capital to increase its Bitcoin holdings. The company has stated that its long-term goal is to maximize Bitcoin per share. This signals a continued and significant allocation of its corporate treasury into Bitcoin.
Notably, to ensure proper oversight, Al Abraaj has established a Bitcoin Committee. This body includes experienced Bitcoin investors, portfolio managers, and capital markets experts. They will oversee custody, risk management, and compliance.
The company also noted that its treasury move followed detailed due diligence and aligns with Bahrain’s regulatory framework, which is governed by the Central Bank of Bahrain. The framework provides guidance on digital asset transactions and public company disclosures.
Rising Interest in Bitcoin
This announcement comes amid rising institutional activity in Bitcoin markets. A May 13 report by André Dragosch, European Head of Research at Bitwise, revealed that public firms have purchased 196,207 BTC in 2025.
Interestingly, this figure is more than three times the new Bitcoin supply of 60,044 BTC issued during the same period. Notably, corporate purchases now exceed the estimated full-year issuance of 164,250 BTC.
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