Gulf state classifies Bitcoin as store of value similar to gold as MicroStrategy executive chairman courts regional investors
February 20, 2026 – The United Arab Emirates has disclosed Bitcoin holdings exceeding $1 billion, marking one of the largest publicly confirmed sovereign crypto positions, as Michael Saylor confirmed meetings with Middle Eastern sovereign wealth funds to pitch corporate Bitcoin treasury strategies.
The UAE has officially classified Bitcoin as a “store of value similar to gold,” according to statements from government representatives . The holdings, accumulated through direct acquisitions and mining operations, position the Gulf state among the largest publicly disclosed sovereign or quasi-sovereign holders of the asset .
Blockchain analytics platform Arkham estimates that the UAE, through partner Citadel, has mined approximately $453.6 million in Bitcoin, with on-chain data suggesting the country has retained most of its mined BTC and is currently sitting on about $344 million in unrealized profit excluding energy costs . Regulatory filings show Abu Dhabi’s Mubadala Investment Co. and its unit ADIC increased positions in BlackRock’s iShares Bitcoin Trust ETF during Q4 2025, with combined stakes valued at over $1 billion . Mubadala oversees nearly $2 trillion in assets .
Binance founder Changpeng “CZ” Zhao stated he may have done “a tiny bit of advocacy” that helped shape the UAE’s decision to acquire Bitcoin and recognize it as a store of value .
Separately, Michael Saylor confirmed he has met with “all sovereign wealth funds in the Middle East” . The MicroStrategy executive chairman has been pitching what he calls the “1.4% forever” plan, proposing that institutions use a small percentage of their balance sheets to acquire Bitcoin, potentially through borrowed capital . MicroStrategy currently holds over 150,000 Bitcoin, worth approximately $6 billion at current prices .
ADIC CEO Saeed Al Mazrouei told Bloomberg News earlier this month that the fund is making “bold investments” in several sectors, including blockchain startups . MGX, an artificial intelligence investor co-created by Mubadala, purchased a $2 billion stake in Binance in 2025 .
Why this matters: Sovereign-level Bitcoin accumulation changes the incentive structure for institutional adoption by establishing a precedent for national treasuries treating crypto as a reserve asset. From a market structure perspective, UAE’s $1 billion position—acquired partly through mining and ETF purchases—demonstrates multiple entry channels for state actors and reduces perceived regulatory risk for other institutional allocators. The meetings between Saylor and regional wealth funds, which collectively control assets exceeding $4 trillion, introduce the possibility of significant capital rotation into Bitcoin if sovereign funds adopt even fractional allocations .
Source: 金色財經 via 鉅亨網