Welcome, my name is Marcus Ledger, and I’m the founder of Caribbean Crypto And Forex Trading. Here, we bring valuable insights and highlight the Caribbean perspective on crypto, forex, and the future of finance.
The United Arab Emirates (UAE) has officially been identified as a significant holder of Bitcoin, with an estimated $700 million worth of BTC mined and stored in government wallets. According to Arkham Intelligence, the UAE’s Bitcoin reserves trace back to Citadel Mining, a company established in Abu Dhabi in 2022, which has been actively mining and accumulating Bitcoin. Arkham revealed on X (formerly Twitter) that it became one of the first to publicly identify the UAE government’s wallets, holding approximately 6,300 Bitcoin. With this revelation, the UAE now ranks sixth among sovereign Bitcoin holders worldwide, placing it in the same league as countries like the U.S. and El Salvador in terms of strategic crypto reserves. This move highlights the UAE’s forward-looking stance on blockchain technology and cryptocurrency adoption. By leveraging its energy resources and progressive financial ecosystem, the UAE is not only diversifying its economy but also securing its position as a leader in the global crypto landscape. As the price of Bitcoin continues to fluctuate between $110K and $116K resistance levels, the UAE’s growing stash could play a pivotal role in shaping institutional and sovereign involvement in Bitcoin markets. another photo about this
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