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As the Bitcoin and altcoin treasury strategy continues to expand around the world, news also came from the United Arab Emirates. Accordingly, the company announced that it has established a $150 million crypto treasury consisting of 514 Bitcoin (BTC) and 630,000 Solana (SOL), the first reserve in Abu Dhabi. Abu Dhabi-based Bitcoin mining company Phoenix Group has launched a $150 million strategic cryptocurrency reserve, becoming the first public company to establish a digital asset treasury on the Abu Dhabi Securities Exchange (ADX). The company described this move as a reflection of its confidence in the long-term value of the blockchain networks that support these assets. Munaf Ali, co-founder and CEO of Phoenix Group, emphasized that holding digital assets like Bitcoin and Solana is not only about market visibility but also about adapting to the evolving financial landscape. “Phoenix has always been much more than a mining company. We are a faith-driven digital infrastructure group. “Holding Bitcoin and other strategic digital assets isn't just about visibility. It's about compliance. We believe in the long-term value these networks represent, and our treasury strategy reflects that belief.” *This is not investment advice. Continue Reading: Good News for Bitcoin (BTC) and This Altcoin from the United Arab Emirates (UAE)! "A First!"
This comes at time when XRP is weighing next major price move
The crypto-focused investment firm said in a Wednesday press release that it acquired the ETH tranche at $3,809 per coin.
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Bitcoin bull Max Keiser makes important BTC-central banks statement
Cryptocurrencies will be counted toward GDP data, according to a recently approved standard
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