Finance
What to know, darling? Abu Dhabi’s Al Warda Investments just played the ultimate “I’ve got a bigger Bitcoin stake than you” game 🎲. They tripled their BlackRock’s IBIT ETF holdings by 230% in Q3, now owning nearly 8 million shares worth $517.6 million. Fancy, right? But let’s be real-this is just the emirate’s version of buying a second home in the Hamptons. 💸
Managed by the Abu Dhabi Investment Council (ADIC), this move is as strategic as it is baffling. Because who doesn’t want to diversify their portfolio with something that’s basically digital gold? 🤷♀️ Gold, but with a 30% price drop and a side of crypto volatility. ADIC’s spokesperson said they’re treating Bitcoin like a “store of value,” which is just a fancy way of saying “we hope this doesn’t crash before we can sell.” 🙃
And let’s not forget the timing: this happened just before Bitcoin hit a record $126k and then plummeted like a soufflé in a hurricane. 😱 Harvard’s endowment fund also jumped on the bandwagon with a $443 million IBIT stake-because why not allocate 20% of your public equity holdings to something that could vanish overnight? 🤯
So, will Bitcoin bounce back? Will ADIC still be smiling when the next bear market hits? Only time will tell. But one thing’s certain: Abu Dhabi’s playing the long game… or at least until the next viral crypto meme. 🚀
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2025-11-20 14:29