The UAE holds approximately 6,300 BTC worth a total of $700 million at the current exchange rate, Arkham analysts reported. The coins were obtained through mining operations, not law enforcement seizures.



All of the bitcoins were mined by Citadel Mining. It is controlled by the state-owned conglomerate International Holding Company, of which 61% is owned by the UAE Royal Group, controlled by Sheikh Tahnoun bin Zayed Al Nahyan of the Abu Dhabi royal family.

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