ChainCatcher message, Binance founder Zhao Changpeng shared a report by CryptoDNES on social media: "Currently, the United Arab Emirates (UAE) holds $40 billion worth of Bitcoin.

The UAE is actively creating a favorable environment for the development of cryptocurrency through initiatives such as the cryptocurrency center in Dubai's Multi Commodities Centre. These strategic measures have encouraged the flourishing of local and international blockchain startups, resulting in a steady increase in the country's Bitcoin reserves.

Experts predict that the UAE will continue to expand its Bitcoin holdings. The country has successfully integrated cryptocurrency into its economy, setting a precedent for other nations, which could encourage further institutional investment and help solidify Bitcoin's position in the global financial system."