The founder of the world’s biggest cryptocurrency exchange, Binance, Changpeng Zhao, also known as CZ, has shared that he played a small part in how the United Arab Emirates (UAE) started to treat Bitcoin as a store of value. A store of value is a kind of asset that people trust to keep its worth over time. In simple words, it’s something you can save now and be confident it will still be worth something later.
In a recent post on social media, CZ said his advocacy helped the UAE recognize Bitcoin in a new way. He wrote that he might have “done a tiny bit of advocacy for this.” This means he believes his public comments or actions helped influence officials and business leaders in the UAE to accept Bitcoin more seriously.
Why is CZ in Dubai important? CZ moved his main home to Dubai in 2021. Dubai, a city in the UAE, is known for being friendly to new technologies and business ideas, especially in the world of digital money and online trading. Being based there allowed CZ to meet many influential people and share his views about Bitcoin and other digital currencies. Over time, his presence in the city has likely helped shape how some leaders think about Bitcoin and the broader crypto industry, though many other factors also play a part in such decisions.
Beyond talk and ideas, the UAE has actually taken steps to gain more experience with Bitcoin. The country has looked into Bitcoin mining, which is the process of using powerful computers to help run the Bitcoin network and, in return, earn new Bitcoins. It has also invested in exchange-traded funds (ETFs), which are products that let people invest in a bunch of assets, like Bitcoin, without buying them directly.
One major development happened in 2022. Abu Dhabi’s royal family put money into Bitcoin mining. They did this through a company called Citadel Mining. Citadel and the royal family built large mining operations on Reem Island, which is a place near the capital city of Abu Dhabi. Because of these mining efforts, the royal family has built up a position in Bitcoin that is now reported to be worth more than $450 million. Mining Bitcoin means using computers to solve complex math problems. When the problems are solved, new Bitcoins are created and added to the network. This process also helps secure the network and confirm transactions.
Recently, a market-tracking platform named Arkham shared new information about how the UAE is involved with Bitcoin. Arkham’s data shows that the UAE has mined about 453.6 Bitcoins. The data also suggests that the group behind the mining has kept most of these Bitcoins and has not moved them recently—the last time any Bitcoins were moved out of their holdings was about four months ago. Because of Bitcoin’s price changes and the costs of electricity used to run the mining machines, the UAE’s mining operation in this example would currently show a profit, calculated to be around $344 million, after paying for energy costs.
In addition to mining, two large government-backed investment groups in Abu Dhabi have bought a lot of Bitcoin-related assets. These groups are Mubadala Investment Company and Al Warda Investments. They bought many shares in a spot Bitcoin ETF called the iShares Bitcoin Trust (IBIT), which is a fund that follows Bitcoin’s price and lets investors own Bitcoin in a way that is traded on traditional markets. By the end of 2025, Mubadala and Al Warda together owned more than $1 billion worth of these ETF shares.
Public filings with the U.S. Securities and Exchange Commission (SEC) provide more detail. They show that, by the end of the previous year, Mubadala owned more than 12.7 million shares of IBIT. Al Warda owned at least 8.21 million shares of the same ETF. Those shares were worth about $631 million for Mubadala and about $408 million for Al Warda at that time. It’s important to note that the value of ETF shares can go up or down because Bitcoin’s price changes, so the total value can move a lot over time.
Even with Bitcoin’s price fluctuations, the total exposure of the UAE to Bitcoin—through mining and ETF investments—remains well above $1 billion. This suggests a real and ongoing interest by the UAE government in Bitcoin as part of its financial strategy. With the government formally recognizing Bitcoin as a store of value, Bitcoin could be treated as a permanent reserve asset in the country’s financial planning. In simple terms, it means the UAE might see Bitcoin as a long-term asset that can help preserve value for the country’s future financial health.
All of these steps show a mix of digital money activity in the UAE: hands-on mining activity that creates new Bitcoins, and big investment by government-related funds in existing Bitcoin products. Together, these actions help explain why Bitcoin has gained a more notable place in the UAE’s overall approach to money and investment.
For readers who want to know where this information comes from, this story about CZ’s influence and the UAE’s Bitcoin moves was reported by CryptoPotato. You can read the original article there for more details: Binance’s CZ Says He Played a ‘Tiny’ Part in UAE’s Embrace of Bitcoin as Store of Value.
Quick notes on key terms
- Bitcoin is a type of money you can’t touch or hold like cash. It is digital and uses a technology called blockchain to record transactions. It is the first and most well-known cryptocurrency.
- Binance is a big online place where people buy and sell many cryptocurrencies. It was started in 2017 by Changpeng Zhao, known as CZ.
- Store of value means an asset that can keep its value over time. People put money in things they think will hold their purchasing power in the future. For example, gold is often called a store of value; Bitcoin is now described this way by many lawmakers and analysts.
- Exchange-traded fund (ETF) is a special kind of investment fund that trades on a stock market. An ETF holds assets such as stocks, bonds, or commodities like Bitcoin. It lets people invest without owning the asset directly.
- United Arab Emirates (UAE) is a country in West Asia made up of seven smaller areas called emirates. Dubai and Abu Dhabi are two well-known cities in the UAE.
Definitions above are linked to Wikipedia for readers who want simple explanations of the terms. For example, you can learn more about Bitcoin, Binance, store of value, exchange-traded fund, and United Arab Emirates.
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