The second-largest bank of the UAE may add Bitcoin to its portfolio, and this can have a rippling effect on the financial landscape of the Middle East. Emirates NBD is considering adding Bitcoin to its institutional investment portfolios.
Maurice Gravier, the bank’s Group Chief Investment Officer, made the disclosure recently. He called Bitcoin “digital gold” and a credible long-term store of value. He pointed to Bitcoin’s fixed supply and proof-of-work security model as what separates it from conventional currencies and from every other cryptocurrency on the market.
Caution Still Drives the Strategy
Gravier was candid about the challenges—Bitcoin’s well-known volatility and its tendency to move in sync with broader market sentiment make it a tricky diversification play. Before any capital moves, the bank wants its valuation models and macroeconomic frameworks in better shape.
For now, Gravier sees a 0.5% portfolio allocation as a sensible starting point. This target is conservative enough to keep risk in check but still significant when you consider the bank’s footprint. Emirates NBD assets are worth around $272 billion. Just half a percent of this sum put in Bitcoin would translate into millions of dollars coming into crypto.
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