AlAbraaj Restaurants Group plans to allocate a significant portion of its corporate treasury to Bitcoin, beginning with 5 BTC. This move aligns with the firm’s objective to tap into the Islamic finance market and integrate Sharia-compliant Bitcoin access.
The collaboration with 10X Capital is expected to enhance AlAbraaj’s capacity to raise funds for further Bitcoin acquisitions. The company projects a financial growth of 12.5 million USD in earnings for 2024, aiming to emulate MicroStrategy’s successful strategy in the Middle East.
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