Bahrain-based Al Abraaj Restaurants Group has made history by becoming the first publicly-traded company in the Middle East to add bitcoin to its corporate treasury. This is a major step forward for regional bitcoin adoption.
On May 15, 2025, Al Abraaj Restaurants Group, a well-known restaurant chain listed on the Bahrain Bourse, announced it had bought 5 bitcoin (BTC) as part of a new treasury strategy. This makes the company the first in Bahrain, the GCC and the Middle East to officially hold bitcoin as a reserve asset.
This is a growing trend globally where companies are treating bitcoin not just as an investment but as a long-term store of value. Major companies like Strategy, Tesla and Metaplanet have already done this — and now Al Abraaj is following suit.
Metaplanet recently added 1,241 BTC to its treasury, boosting the company’s holdings above El Salvador’s.
Related: Metaplanet Overtakes El Salvador in Bitcoin Holdings After $126M Purchase
“Our initiative towards becoming a Bitcoin Treasury Company reflects our forward-thinking approach and dedication to maximizing shareholder value,” said Abdulla Isa, Chairman of the Bitcoin Treasury Committee at Al Abraaj.
Al Abraaj’s move is largely inspired by Michael Saylor, Executive Chairman of Strategy, the world’s largest corporate holder of bitcoin. Saylor’s strategy of allocating billions to bitcoin has set a model that other companies — now including Al Abraaj — are following.
A photo shared by the company even showed a meeting between an Al Abraaj representative and Saylor, with the company calling itself the “MicroStrategy of the Middle East”.
“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,” Isa added.
To support its bitcoin initiative, Al Abraaj has partnered with 10X Capital, a New York-based investment firm that specializes in digital assets.
10X Capital has a strong track record in bitcoin treasury strategies, and recently advised Nakamoto Holdings on a $710 million deal — the largest of its kind.
With 10X’s help, Al Abraaj looks to raise more capital and increase its bitcoin holdings over time to maximize bitcoin-per-share for its investors. The company will also develop Sharia-compliant financial instruments so Islamic investors can get exposure to bitcoin in a halal way.
“Bahrain continues to be a leader in the Middle East in Bitcoin adoption,” said Hans Thomas, CEO of 10X Capital. He noted, with a combined GDP of $2.2 trillion and over $6 trillion in sovereign wealth, the GCC now has its first publicly listed bitcoin treasury company.
This is not just a first for Al Abraaj — it’s a first for the region. Bahrain has been positioning itself as a fintech hub and Al Abraaj’s move will encourage more non-fintech companies in the region to look into bitcoin.
The company said the decision was made after thorough due diligence and is in line with the regulations set by the Central Bank of Bahrain (CBB). Al Abraaj will be fully compliant with all digital asset transaction rules, including transparency, security and governance.
A special Bitcoin Committee has been formed to oversee the treasury strategy. It includes experienced bitcoin investors, financial experts and portfolio managers who will manage risk, monitor market conditions and ensure best practices in custody and disclosure.
The initial purchase was 5 BTC, but Al Abraaj sees this as just the beginning. The company stated that there are plans in motion to allocate a significant portion of their treasury into bitcoin over time.
According to the company’s reports, Al Abraaj is financially sound with $12.5 million in EBITDA in 2024. This strong financial foundation gives the company the confidence to explore new strategies like bitcoin investment.
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