As Bitcoin and altcoin’s financial strategies continue to expand worldwide, news has also emerged from the United Arab Emirates.
Therefore, the company announced that it has established a $150 million cryptocurrency ministry consisting of Abu Dhabi’s first reserve, 514 Bitcoin (BTC) and 630,000 Solana (SOL).
Abu Dhabi-based Bitcoin mining company Phoenix Group has launched a $150 million strategic cryptocurrency reserve and became the first public company to establish the Ministry of Digital Assets and Treasury on the Abu Dhabi Stock Exchange (ADX).
The company described the move as reflecting 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 such as Bitcoin and Solana is about not only market visibility, but also adaptation to the evolving financial environment.
“Phoenix has always been more than a mining company, we are a faith-driven digital infrastructure group.
“Containing Bitcoin and other strategic digital assets is not just about visibility, it’s about compliance. We believe in the long-term value these networks represent, and our financial strategy reflects that belief.”
*This is not investment advice.
