UAE National Bank: Considers Bitcoin as a Store of Value and "Digital Gold"

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Odaily Planet Daily reports that executives at Emirates NBD, the National Bank of the United Arab Emirates, stated that the bank has opened the possibility of allocating Bitcoin in its investment process. They view it as a store of value and “digital gold,” recognizing its proof-of-work mechanism, limited supply, and low inflation characteristics. The executive directly said that Bitcoin’s current valuation is more attractive than six months ago, as its price was too high six months ago. They revealed that the bank’s internal fair value model indicates that the reasonable price of Bitcoin within 12 months could approach $100,000, and the bank is still refining the model. He also mentioned that the bank has not yet finalized Bitcoin allocation, but if included in the future, it will be a limited proportion. The reason is that Bitcoin is correlated with market risk appetite and is highly volatile, and the bank aims for portfolio diversification.

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