Officially Holds $700 Million in Bitcoin:Citadel and Royal Group Confirm Growing Influence in Crypto

The United Arab Emirates has firmly positioned itself among the global crypto players. According to the latest report from Arkham Intelligence, the government, through the mining company Citadel, holds approximately $700 million worth of Bitcoin. Citadel is a publicly traded mining company majority-owned by the UAE Royal Group, the investment arm of International Holding Company (IHC). Moving mining operations under Royal Group’s control is part of Dubai and Abu Dhabi’s broader ambition to become global hubs for blockchain and digital finance.

From Rumors to Confirmation Speculation about the UAE’s massive Bitcoin purchases has been circulating since last year, with some estimates suggesting holdings of up to 420,000 BTC, exceeding U.S. holdings. Arkham has now officially confirmed the first concrete figure: $700 million worth of BTC, derived from Citadel’s mining production. This move clearly signals that the Emirates are not playing second fiddle. Both Dubai and Abu Dhabi have built regulatory frameworks that attract crypto firms and mining projects from around the world.

Governments and Bitcoin: Who Holds the Most? The UAE joins a growing list of nations with Bitcoin in their balance sheets: 🔹 El Salvador – Over 6,000 BTC, daily purchases under President Bukele’s plan.

🔹 Iran – Licensed miners must sell their BTC directly to the central bank.

🔹 Bhutan – Mining since 2019 using hydroelectric power; currently holds 12,000–13,000 BTC (up to 40% of GDP).

🔹 USA – Nearly 200,000 BTC, mostly from seizures tied to Silk Road, ransomware, and dark web operations.

🔹 China – Over 190,000 BTC seized in the PlusToken Ponzi scheme.

🔹 UK, Bulgaria, Finland, Georgia, Venezuela – Ranging from thousands to tens of thousands of BTC holdings. According to Arcane Research, governments worldwide collectively hold around 463,000 BTC, or 2.3% of total supply.

Market Implications The fact that the UAE – a Middle Eastern economic powerhouse – is mining and holding Bitcoin sends a strong message about crypto’s legitimacy. Unlike the U.S. or China, which primarily accumulated BTC through confiscation, the Emirates are actively mining and accumulating. For investors, this reinforces Bitcoin’s role not just as a speculative asset but as a strategic state reserve, comparable to gold or oil.

#bitcoin , #UAE , #CryptoMining , #blockchain , #BTC

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