UAE Bitcoin Holdings Unearthed: $700 Million Identified on Arkham Platform

A new blockchain analysis platform, Arkham, has revealed that the United Arab Emirates (UAE) holds a significant amount of Bitcoin, approximately $700 million. The data, shared on the X social media platform formerly known as Twitter by Arkham, reveals the assets originated from mining operations conducted by Citadel, a publicly traded mining company. Citadel’s majority shareholding is held by the UAE Royal Group through IHC, highlighting potential connections to the nation’s financial landscape.