Bitcoin Treasury Fever Hits The Middle East

By: bitcoinist|2025/05/16 12:15:05

In a watershed moment for Gulf capital markets, Al Abraaj Restaurants Group (trading on the Bahrain Bourse as ABRAAJ) disclosed on Wednesday that it has transferred part of its corporate treasury into Bitcoin, becoming the first publicly listed company anywhere in the Middle East to hold the cryptocurrency on its balance sheet. Al Abraaj Leads MENA With Bitcoin Treasury Move In a statement released in Arabic, the food-services operator said it had “completed a historic first-time purchase of Bitcoin within its institutional treasury” and intends to “build a strategic, Sharia-compliant pathway to Bitcoin for the Islamic world.” The company hailed the move as one that “gives a clear zone bulls need to fully regain for the next impulse higher,” adding on social media: “Al Abraaj just became the first public company in the Middle East to adopt a Bitcoin treasury strategy. We’re stacking sats for real.” To implement the strategy, Al Abraaj has partnered with New York–based merchant bank 10X Capital. The two firms said they will pursue additional capital raises so the restaurant chain can “increase the units of Bitcoin per share,” mirroring the playbook pioneered by MicroStrategy in the United States and, more recently, by Japan’s Metaplanet. 10X Capital is also structuring a separate $710 million vehicle for Nakamoto–the company founded by T rump advisor and BTC Inc. CEO David Bailey–it hopes to list on Nasdaq under the ticker KDLY, positioning it as what executives call “the largest aggregation platform for companies launching Bitcoin treasury strategies.” Management emphasised its determination to satisfy Islamic-finance mandates. Al Abraaj described BTC as “an innovation that can be delivered in a manner consistent with Sharia principles,” and said the partnership with 10X Capital is intended to “open Bitcoin access to investors from Saudi Arabia, Kuwait, Qatar, Oman and beyond” through the purchase of ABRAAJ shares on the Bahrain Bourse. The decision places the 38-year-old restaurant group in rarefied company. MicroStrategy (Nasdaq: MSTR) and Tesla (Nasdaq: TSLA) sparked global headlines when they began converting excess cash into Bitcoin, while Tokyo-listed Metaplanet (TSE: 3350) adopted the same playbook this spring 2024. Their stocks have been among 2024’s top performers, and Al Abraaj is betting the market will reward a similar conviction trade in the Gulf. David Bailey, a partner at 10X Capital and a vocal proponent of corporate BTC adoption, hailed the deal on X: “Bitcoin Treasury Co Kingdom of Bahrain. LFGGGGGG.” While the size of Al Abraaj’s initial allocation was not disclosed, management signalled that further purchases are likely as it seeks to align treasury reserves with “a long-term, hard-cap monetary asset.” Al Abraaj commented via X: “Big shoutout to the legend Michael Saylor — your laser-eyed conviction lit the path. Al Abraaj just became the first public company in the Middle East to adopt a Bitcoin treasury strategy. We’re stacking sats for real.” At press time, BTC traded at $102,732.

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.

2025 Full-Year Financial Highlights

Revenue: Expected to be between $39 million and $41 million, reaching a new company high.

Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.

Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.

Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.

Core Consumer Food Business Performance

In 2025, DDC's core consumer food business maintained strong operational performance.

The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.

In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.

Bitcoin Reserve Update

In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.

As of December 31, 2025: The company holds 1,183 BTC.

As of February 28, 2026: Holdings increased to 2,118 BTC

Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC

DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."

Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation

About DDC Enterprise Limited

DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.

The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.

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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins