Reports from the UAE Central Bank or other official financial institutions

UAE Gold Reserves Surge 28% in 2024; Bitcoin Holdings Reach $40 Billion, Including 300k BTC

Dec 22, 2024, 11:22 AM

The United Arab Emirates (UAE) has reportedly increased its gold reserves by 28% in 2024, signaling a robust commitment to precious metals amid global economic uncertainties. Concurrently, the UAE's Bitcoin holdings have surged to $40 billion, bolstered by investments from sovereign wealth funds and private institutions. This move positions the UAE as a significant player in the cryptocurrency market, reflecting a broader trend of nations adopting digital currencies. However, some skepticism exists regarding the authenticity of the Bitcoin figures, with calls for official confirmation of these holdings. The UAE's strategic focus on both gold and cryptocurrency illustrates its efforts to diversify its financial assets in a changing global landscape.