Basil Al Askari, CEO of Abu Dhabi-based MidChains, is making the case that Bitcoin’s current pricing represents a strategic entry point for sovereign wealth funds, and that their participation could trigger a domino effect across the institutional landscape.
It sends “a very clear signal” to other institutions that may be sitting on the sidelines and looking at these larger funds as leaders, Al Askari said.
The Abu Dhabi connection
MidChains is backed by Mubadala Investment Company, one of Abu Dhabi’s most prominent sovereign wealth vehicles, alongside global investors MIAX and ADQ. It was the first regulated platform in its region to secure that caliber of institutional backing.
The company operates under the regulatory umbrella of the Abu Dhabi Global Market, functioning as both a multilateral trading facility and a custodian for virtual assets. Its target market is institutional OTC traders and qualified investors.
