Arkham: The UAE has marked a BTC holding address worth $740 million, mainly obtained through mining by the mining company Citadel
blockchain data monitoring platform Arkham posted on social media that the United Arab Emirates' $700 million worth of Bitcoin holdings have now been tagged on the Arkham platform. Arkham stated that the UAE is the fourth largest government entity holding Bitcoin on the platform, with a total BTC holding value of nearly $7.4 billion. Unlike the United States and the United Kingdom, the UAE's Bitcoin holdings are not from police asset seizures, but are generated through mining operations in partnership with Citadel. As of now, they have mined approximately 9,300 BTC and still hold at least around 6,300 BTC.
Citadel is 85% owned by 2pointzero, which is 100% owned by IHC. IHC is approximately 61% owned by the UAE royal group, which is controlled by Sheikh Tahnoon bin Zayed Al Nahyan, a member of the Abu Dhabi royal family.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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