A new research report from bitcoin-focused financial services firm River 
estimates that 23 nation-states now hold bitcoin, signaling a steady shift 
from fringe asset to sovereign balance sheet contender. River Report: Nearly 2 
Dozen Countries Now Hold Bitcoin as Nation-State Adoption Expands River’s 
latest adoption report paints a clear picture: bitcoin (BTC) is no longer […]

Bitcoin Goes Sovereign: 23 Nation-States Estimated to Own BTC

In a sign of the growing convergence between traditional finance and digital 
assets, Emirates NBD is reportedly exploring the addition of Bitcoin to its 
investment portfolio. The development reflects a broader shift in 
institutional strategy, as major financial institutions increasingly recognize 
BTC&#8217;s potential role in portfolio diversification, inflation hedging, and 
long-term value preservation. Why Emirates NBD Is Exploring Bitcoin 
Integration Emirates NBD, one of the largest banks in the United Arab Emirates 
but frequently described as the UAE&#8217;s second-largest bank, is actively 
evaluating whether to add Bitcoin to its investment portfolio. Crypto market 
commentator MartyParty has mentioned on X that the news stems directly from 
comments by Maurice Gravier, the Group Chief Investment Officer (CIO) at 
Emirates NBD, during an appearance on CNBC Squawk Box. Related Reading: 
Bitcoin Sees “Most Aggressive” Institutional Selling Ever, Analyst Says 
Gravier&#8217;s key points were viewing BTC as digital gold and framing it primarily 
as a store of value rather than merely an alternative currency. He noted that 
Bitcoin has matured significantly, citing its proof-of-work security model, 
limited supply, and structurally low inflation rate as attributes that enhance 
its appeal to institutional investors. Furthermore, Gravier has suggested that 
BTC&#8217;s current valuation appears more attractive compared to six months ago, 
when the price was considered relatively high. According to MartyParty’s 
summary, the bank has an internet model, and indicates that BTC could 
reasonably approach the $100,000 range within the next 12 months. However, the 
projections are still being refined. The Emirates NBD&#8217;s bank asset management 
division reportedly oversees approximately $16 billion in assets, and any 
potential allocation would be limited in size and used for diversification 
purposes. Nonetheless, with no final decision or execution, it is still under 
review amid ongoing market volatility. This consideration has highlighted a 
growing institutional interest in BTC across traditional finance in the Middle 
East. How Businesses Are Using BTC Payments At Scale While individuals are 
focused on Bitcoin dropping to $63,000, with the price down 50% from its high, 
a major milestone in its underlying network activity last week has largely 
gone unnoticed. Crypto analyst Fernando Nikolić pointed out that the Lightning 
Network surpassed $1 billion in monthly transaction volume for the first time, 
reaching approximately $1.17 billion across 5.2 million transactions in 
November. Related Reading: Bullish Signal? Coinbase Bitcoin Premium Turns 
Positive After Months In Red The data shows that the average transaction size 
nearly doubled year-over-year from $118 to $223, indicating that this is not 
just micropayment experimentation. Nikolić believes that businesses are using 
it, and exchanges are moving real money through it. In other words, its actual 
usage as a payment network just hit an all-time high. In his view, both 
realities can coexist and underscore a broader disconnect between market 
narratives and underlying network fundamentals. Also, Nikolić noted that the 
adoption milestone has received relatively little attention because it 
challenges the dominant bearish storyline surrounding the BTC price action. 
Featured image from Peakpx, chart from Tradingview.com

Bitcoin Emerges As Strategic Asset In Emirates NBD Investment Plans

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Citadel Securities has issued a pointed rebuttal to Citrini Research’s viral 
“2028 Global Intelligence Crisis” artificial intelligence (AI) scenario, 
arguing that current labor data and adoption trends offer little evidence of 
imminent white-collar collapse. Is AI Getting Too Good? Citadel Offers a 
Different Take Authored by global macro analyst Frank Flight, the market- 
making firm’s response […]

Citadel Securities Challenges Citrini’s ‘Global Intelligence Crisis’ Thesis

The AI and digital marketing company acquired its 7,500 Bitcoin in September 
2025, amid a market-wide collapse in Bitcoin treasury company mNAVs.

Cryptocurrency price in MMK