According to online reports, Bahrain-listed restaurant group AlAbraaj announced that it has launched its Bitcoin reserve strategy through cooperation with investment institution 10X Capital and has purchased 5 BTC as initial investments. The company has a market capitalization of US$24.2 million and an earnings before interest, tax, depreciation and amortization of US$12.5 million in 2024. It plans to allocate corporate funds mainly into Bitcoin and develop financial products that comply with Islamic law to expand the Middle East market. Abdullah Isa, head of the company's Bitcoin committee, said the goal was to become the "MicroStrategy of the Middle East" and cited Michael Saylor's operating model as a reference. The CEO of 10X Capital pointed out that the move fills the gap in listed companies in the Gulf Cooperation Council (with a total GDP of US$2.2 trillion) that lack bitcoin reserves.