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Binance Founder CZ Links UAE Recognition of Bitcoin as Store of Value

Guavy AI Editorial Team
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Changpeng Zhao, founder and former CEO of Binance, claims to have played a small role in the UAE's recognition of Bitcoin as a store of value comparable to gold.

The announcement comes after years of growing national exposure to cryptocurrencies, with mining operations and sovereign ETF holdings exceeding $1 billion.

Zhao relocated to Dubai in 2021 and has connections to prominent figures in the region, coinciding with a significant expansion of the country's cryptocurrency activity.

The UAE's Bitcoin accumulation took two distinct paths: Abu Dhabi's royal family entered Bitcoin mining through its affiliated firm, Citadel Mining, producing an estimated $453.6 million in BTC.

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