Al Abraj Restaurants Group (Bahrain Bourse: ABRAAJ) has made history by becoming the first publicly listed company in the Middle East to adopt Bitcoin as a corporate treasury asset.
Bahrain-based hospitality group confirmed its first Bitcoin acquisition—an initial purchase of five BTC. This marks a pivotal shift in the region’s financial landscape, signalling rising institutional interest in digital assets within the Gulf Cooperation Council (GCC).
جديد: 🇧🇭 مجموعة مطاعم الأبراج
أصبحت أول شركة مدرجة في البحرين تعتمد خزانة #Bitcoin .الشرق الأوسط يستعد 🚀 pic.twitter.com/VjUmApvcp8
— Abod Crypto (@Abod_crypto) May 15, 2025
The company has partnered with New York-based investment firm 10X Capital to expand its Bitcoin treasury program. This strategic alliance is expected to support further capital raises to increase Bitcoin holdings per share, a model that has proven highly successful for Western firms.
“We’re proud to lead the GCC in embracing Bitcoin as a treasury reserve,” said Abdulla Issa, Chairman of the newly formed Bitcoin Treasury Committee at Al Abraj.
“This is more than an investment—it’s a long-term commitment to innovation, diversification, and shareholder value.”
Al Abraj also plans to introduce Sharia-compliant digital asset solutions, opening the door for broader Muslim world access to Bitcoin through regulated and ethical financial channels.
Backed by 2024 EBITDA of $12.5 million, the profitable restaurant group intends to allocate a significant portion of its treasury to Bitcoin. The company will implement strict governance policies for digital asset custody and risk management, overseen by a committee of global financial experts and veteran Bitcoin investors.
“Abraaj’s entry into Bitcoin treasury signals a new era for the GCC,” said Hans Thomas, CEO of 10X Capital.
“For the first time, investors across Bahrain, Saudi Arabia, UAE, Kuwait, Qatar, and Oman can gain Bitcoin exposure through a listed equity. This is a game-changer.”
In a related development, American fast-food chain Steak ‘N Shake is entering the crypto space by announcing that all U.S. locations will begin accepting Bitcoin payments starting May 16. This expansion will allow over 100 million customers to purchase their steakburgers and milkshakes using BTC, further underscoring the global momentum behind Bitcoin adoption.
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