According to ChainCatcher, CZ, the founder of Binance, shared a news report from CryptoDNES on social media: "Currently, the United Arab Emirates (UAE) holds $40 billion worth of Bitcoin.
The UAE is actively creating a favorable environment for the development of cryptocurrencies through initiatives such as the Crypto Center at the Dubai Multi Commodities Center. These strategic measures have encouraged the thriving growth of local and international blockchain startups, leading to a steady increase in the country's Bitcoin reserves.
Experts predict that the UAE will continue to expand its Bitcoin holdings. The country's successful integration of cryptocurrencies into its economy has set an example for other nations, potentially encouraging further institutional investment and helping to consolidate Bitcoin's position in the global financial system."
