The United Arab Emirates (UAE) has emerged as the fourth-largest government holder of Bitcoin, according to data from blockchain analytics firm Arkham Intelligence.
Data on Bitcoin Reserves in UAE
According to Arkham Intelligence, the UAE's Bitcoin holdings are approximately 6,300 coins, valued between $700-740 million.
Comparison with Other Countries
As per estimates by BitBo, the UAE will hold the sixth position in Bitcoin holdings after countries such as the USA, China, the UK, Ukraine, and Bhutan. Ukraine has 46,351 coins while Bhutan holds 11,286.
Investments in Crypto Assets
Abu Dhabi's sovereign wealth fund has invested $534 million into a crypto ETF, illustrating the UAE's dual approach to crypto investments. Arkham stated, “Unlike the US and UK, the UAE's holdings do not come from police asset seizures but from mining operations with Citadel Mining.”
Thus, the United Arab Emirates, through its mining efforts and investments, is positioning itself as a significant player in the global crypto landscape.
