Foreign media: The United Arab Emirates holds $40 billion worth of Bitcoin

2024-12-22 19:58:06

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ChainCatcher news, Binance founder Zhao Changpeng shared a report from CryptoDNES on social media: "Currently, the United Arab Emirates (UAE) holds $40 billion worth of Bitcoin.

The UAE is actively creating a favorable environment for the development of cryptocurrencies through initiatives such as the cryptocurrency center at the Dubai Multi Commodities Centre. These strategic measures have encouraged the thriving of local and international blockchain startups, leading to a steady increase in the country's Bitcoin reserves.

Experts predict that the UAE will continue to expand its Bitcoin holdings. The country has successfully integrated cryptocurrencies into its economy, setting a precedent for other nations, which could encourage further institutional investment and help solidify Bitcoin's position in the global financial system."

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