UAE Bitcoin Stash Hits $700M, Emerges as Key BTC Player

The United Arab Emirates has now emerged as the fourth-largest government holding Bitcoin. The UAE Bitcoin stash has reportedly surpassed $700 million, according to blockchain analytics firm Arkham Intelligence. The country’s savvy investments and strategic mining operations have placed it as a strong competitor to global powers like the US and the UK.

Gulf Nation Emerges as a Key Player in Global Crypto Space

In a recent X post , Arkham Intelligence revealed the United Arab Emirates’ position in the global crypto holding countries. According to their analysis, the UAE Bitcoin stash holds about 6,300 coins, valued at around $700-740 million.

With nearly 9,300 BTC mined so far, the Arabian nation currently retains a significant portion, holding around 6,300 in its cryptocurrency reserves. Arkham’s findings suggest that the Arab Emirates is now the fourth-largest BTC-holding government.

However, as per the estimates of BitBo, the United Arab Emirates will occupy the sixth position after the US, China, the United Kingdom, Ukraine, and Bhutan. Reportedly, Ukraine holds 46,351 coins while Bhutan boasts 11,286. Another key contender is El Salvador, a pro-Bitcoin country that holds 6,246 coins.

US, UK Dominance in Crypto Challenged

Notably, the USA is the largest holder of BTC , with a total of about 200k coins. China closely follows with 190,000 tokens, while the UK secures the third spot with 61,245. Unlike major powers like the US and the UK, the Arab has accumulated its cryptocurrencies via mining operations conducted by Citadel Mining. Citadel is a company majority-owned by the Royal Group via International Holding Company (IHC).

This strategic accumulation underscores the country's commitment to digital assets, contrasting with the US and UK, which have primarily acquired these digital assets through seizures rather than proactive investment or other operations. Although the UAE Bitcoin stash of 6,300 is significantly lower than the often-speculated 420,000, its strategic focus on mining has positioned the country as a notable player in the industry. It has allowed the country to secure a prominent spot among major players.

Claiming to be among the first to identify the UAE Bitcoin stash, Arkham stated, “Unlike the US and UK, the UAE’s holdings do not come from police asset seizures but from mining operations with Citadel Mining.”

However, as per the estimates of BitBo, the United Arab Emirates will occupy the sixth position after the US, China, the United Kingdom, Ukraine, and Bhutan. Reportedly, Ukraine holds 46,351 cryptos while Bhutan boasts 11,286. Another key contender is El Salvador, a pro-Bitcoin country that holds 6,246 coins.

Significantly, the UAE Bitcoin stash extends beyond cryptocurrency excavation . Abu Dhabi’s sovereign wealth fund has invested a staggering $534 million in a crypto ETF. This move into mainstream financial instruments reveals the country’s dual approach to crypto.