Emirates NBD, one of the largest banks in the United Arab Emirates, is reportedly considering adding Bitcoin to its investment portfolio. This move signifies a broader institutional trend toward recognizing Bitcoin's potential for portfolio diversification and long-term value preservation.
Maurice Gravier, Group Chief Investment Officer at Emirates NBD, described Bitcoin as 'digital gold' and a store of value, highlighting its robust security, limited supply, and low inflation rate. He indicated that Bitcoin's current valuation is more appealing compared to previous periods.
The bank's asset management division oversees approximately $16 billion. Any potential Bitcoin allocation would be limited and primarily for diversification. This consideration reflects increasing institutional interest in digital assets within the Middle East.
Separately, the Bitcoin Lightning Network has surpassed $1 billion in monthly transaction volume, reaching $1.17 billion across 5.2 million transactions in November. The average transaction size has nearly doubled, suggesting increased business and exchange usage for real money transfers, indicating strong underlying network fundamentals.