AlAbraaj Restaurants Group, a publicly traded company on the Bahrain Bourse with a market cap of $24.2 million, has formally announced its entry into the world of Bitcoin treasury management. The company has partnered with 10X Capital, a U.S.-based investment firm, to implement a long-term Bitcoin investment plan—becoming the first Middle Eastern public company to do so.

The May 15 announcement revealed the company’s intent to hold Bitcoin as a treasury reserve asset, mimicking the playbook of Strategy (formerly MicroStrategy)—the U.S.-based enterprise software firm that has accumulated over 568,000 BTC under Michael Saylor’s leadership.

AlAbraaj: Pioneering Bitcoin in Gulf Corporate Finance

The company aims to position itself as the “Strategy of the Middle East”, marking a regional first for public corporations openly adopting Bitcoin as a core balance sheet asset.

“Our strategic shift toward Bitcoin is a calculated move to preserve and grow shareholder value in the digital age,” said Abdullah Isa, Chair of the AlAbraaj Bitcoin Treasury Committee. “We believe Bitcoin will be an enduring component of global finance and monetary policy.”

To kick off the initiative, the company has acquired 5 BTC with a stated goal to scale its holdings over time. According to Isa, this move reflects the group’s broader ambition to offer Sharia-compliant Bitcoin exposure, providing ethical investment pathways for Gulf-based investors.

10X Capital Bolsters Strategy with Advisory Role

AlAbraaj is supported by 10X Capital, the U.S. investment firm known for its involvement in Bitcoin-native corporate initiatives. The firm recently helped raise $710 million for Nakamoto Holdings, a new entity formed by the merger of KindlyMD and a Bitcoin-focused investment vehicle.

CEO Hans Thomas noted that this partnership is historic for the Gulf region, which until now lacked a public Bitcoin treasury company.

“With $6 trillion in sovereign wealth and a combined $2.2 trillion GDP across the Gulf states, this market has tremendous untapped potential for Bitcoin-based treasury strategies,” Thomas said. “AlAbraaj is setting the stage for wider adoption and digital asset innovation in the Middle East.”

AlAbraaj to Develop Islamic Bitcoin Financial Tools

In addition to simply holding BTC, AlAbraaj has signaled its intention to develop Islamic finance-compliant digital asset tools. These would serve institutional and retail investors seeking halal exposure to Bitcoin and blockchain-based products.

The firm recorded $12.5 million in EBITDA for 2024 and remains cash flow positive. With new verticals in fintech and blockchain finance, it aims to transform from a regional restaurant leader into a crypto-financial powerhouse for the Islamic world.

Future plans include exploring the development of Bitcoin sukuk instruments, crypto staking tools with religious compliance, and even a dedicated Sharia-compliant crypto exchange tailored to GCC and Southeast Asian markets.

Bitcoin Adoption Accelerates Across Corporate Sectors

AlAbraaj’s move aligns with a growing trend of Bitcoin adoption by traditional businesses. Just last week, American fast-food chain Steak ‘n Shake announced it would accept Bitcoin payments across all U.S. outlets starting May 16—making it one of the first nationwide chains to accept BTC at scale.

Payment infrastructure provider Mesh also recently rolled out Apple Pay integration for crypto purchases, allowing customers to seamlessly spend digital assets online and in-store.

Meanwhile, global payment leader Stripe revealed plans to launch a stablecoin pegged to the U.S. dollar and to operate across markets outside the U.S., EU, and UK. The move follows Stripe’s acquisition of Bridge, a cross-border crypto payment startup designed to rival SWIFT.

And in a bold call to action, Jack Dorsey, ex-Twitter CEO and longtime Bitcoin supporter, urged encrypted messaging app Signal to integrate Bitcoin-based P2P payments, pushing the frontier of privacy-first crypto finance.

Conclusion: AlAbraaj Sets New Benchmark for Bitcoin Treasury in Middle East

As institutional adoption of Bitcoin intensifies worldwide, AlAbraaj Restaurants Group’s bold move may inspire more companies in the Gulf Cooperation Council (GCC) and beyond to embrace decentralized finance.

By blending traditional Islamic financial principles with modern digital asset strategies, AlAbraaj is not just copying MicroStrategy—it is carving a uniquely regional version of corporate Bitcoin adoption.

With backing from 10X Capital and a roadmap that includes fintech innovation, treasury expansion, and digital infrastructure development, AlAbraaj could become a catalyst for Bitcoin’s entry into mainstream Middle Eastern capital markets.