Standard Asset Company outlines $1.5 billion Bitcoin and UAE real estate strategy
Photo: Crypto Briefing
The new Abu Dhabi firm plans to use hotel and branded residence income to build a Bitcoin reserve managed by Coinbase Asset Management A new proprietary investor has set up shop in Abu Dhabi with a plan that sounds like two pitch decks stapled together. Standard Asset Company (SAC) wants to buy income-producing UAE real estate and use the proceeds to build a long-term Bitcoin reserve. The firm is targeting a total of $1.5 billion for the strategy. It plans to run the program over 10 years and review its allocation every quarter.
Source: Crypto Briefing
