Binance’s CZ Says He Played a ‘Tiny’ Part in UAE’s Embrace of Bitcoin as Store of Value
Changpeng Zhao (CZ), founder and former CEO of the world’s largest crypto trade, Binance, has revealed his position in the United Arab Emirates’ (UAE) Bitcoin adoption.
In a tweet highlighting data that the UAE has formally acknowledged bitcoin (BTC) as a retailer of worth just like gold, CZ disclosed that his advocacy contributed to the event.
CZ Influenced the UAE’s Bitcoin Adoption
“I might need performed a tiny bit of advocacy for this,” the Binance founder stated.
It is not any information that CZ established his main residence in Dubai in 2021, because of the metropolis’s pro-crypto and forward-thinking atmosphere. His presence in the town and influence on distinguished figures have actually affected their stance on Bitcoin and the crypto trade as a entire.
Over the years, the UAE has elevated its Bitcoin publicity by mining and the acquisition of exchange-traded funds (ETFs). By 2022, Abu Dhabi’s royal household had ventured into Bitcoin mining by its affiliated agency, Citadel Mining. The royal household, by Citadel, established large-scale mining operations on AI Reem Island and has since amassed over $450 million in bitcoin.
Earlier as we speak, the market intelligence platform, Arkham, revealed that the UAE has mined $453.6 BTC. On-chain knowledge exhibits the entity has been holding the bulk of BTC produced, with its final outflow recorded 4 months in the past. The royal household is now $344 million in revenue on their BTC, minus power prices.
UAE’s Bitcoin Exposure Crosses $1B
Besides the Bitcoin mining ventures, two main Abu Dhabi sovereign wealth entities, specifically Mubadala Investment Company and Al Warda Investments, have bought hundreds of thousands of shares in spot Bitcoin ETFs. By the tip of 2025, the businesses had amassed greater than $1 billion in mixed holdings of BlackRock’s iShares Bitcoin Trust (IBIT).
Separate 13F filings with the U.S. Securities and Exchange Commission (SEC) revealed that by the tip of final yr, Mubadala held over 12.7 million shares in IBIT. On the opposite hand, Al Warda owned at the very least 8.21 million shares of the identical product. The shares have been value $631 million and $408 million, respectively.
Although the worth of the ETF shares has plummeted alongside bitcoin’s value, the mixed Bitcoin publicity for the UAE stays effectively above $1 billion. With the federal government recognizing BTC as a retailer of worth, the cryptocurrency is more likely to be handled as a everlasting reserve asset going ahead.
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