By Gulf Times Now DUBAI — Bitcoin crossed the historic $200,000 price threshold this week as signals emerged from multiple Gulf Cooperation Council sovereign entities that they are actively building strategic cryptocurrency reserves — a development that market analysts say marks a definitive turning point in the institutional legitimacy of digital assets.
The GCC’s collective moves into crypto reserve accumulation are significant not merely for their scale, but for what they represent: the embrace of digital assets by some of the world’s most conservative and financially sophisticated sovereign wealth managers.
Dubai’s Virtual Assets Regulatory Authority has positioned the emirate as the global hub for regulated crypto activity, with over 600 virtual asset firms now licenced to operate from the city — a figure that has nearly doubled in 18 months.