Over the years, the UAE has increased its Bitcoin holdings through mining and ETF purchases, with exposure now exceeding $1 billion.
Changpeng Zhao (CZ), founder and former CEO of the world’s largest crypto exchange, Binance, has revealed his role in Bitcoin adoption in the United Arab Emirates (UAE).
In a tweet highlighting information that the UAE has formally recognized bitcoin (BTC) as a store of value comparable to gold, CZ says revealed that his advocacy has contributed to the development.
CZ has influenced Bitcoin adoption in the UAE
“I might have been able to argue for this a little bit,” the Binance founder said.
It is no news that CZ established its primary residence in Dubai in 2021, due to the city’s pro-crypto and progressive environment. His presence in the city and influence on prominent figures have certainly influenced their stance on Bitcoin and the crypto industry as a whole.
Over the years, the UAE has increased its exposure to Bitcoin through mining and the purchase of exchange-traded funds (ETFs). In 2022, Abu Dhabi’s royal family ventured into Bitcoin mining through affiliated company Citadel Mining. The royal family established large-scale mining operations on AI Reem Island through Citadel and has since amassed more than $450 million in bitcoin.
Earlier today, market intelligence platform Arkham, revealed that the UAE has mined $453.6 BTC. Data from the chain shows that the entity controls the majority of BTC produced, with the last outflow recorded four months ago. The Royal Family now has $344 million in profit on their BTC, minus energy costs.
The UAE’s Bitcoin Exposure Exceeds $1 Billion
In addition to the Bitcoin mining companies, two major state-owned investment entities in Abu Dhabi, namely Mubadala Investment Company and Al Warda Investments, have purchased millions of shares in spot Bitcoin ETFs. By the end of 2025, the companies had amassed more than $1 billion in combined holdings of BlackRock’s iShares Bitcoin Trust (IBIT).
Separate 13F filings with the U.S. Securities and Exchange Commission (SEC) showed that Mubadala late last year held more than 12.7 million IBIT shares. On the other side Al Warda property at least 8.21 million shares of the same product. The shares were worth $631 million and $408 million, respectively.
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Although the value of ETF shares has plummeted along with the price of Bitcoin, the combined Bitcoin exposure for the UAE remains well above $1 billion. With the government recognizing BTC as a store of value, the cryptocurrency will likely be treated as a permanent reserve in the future.
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