Emirates NBD, one of the United Arab Emirates’ largest lenders, is evaluating a potential allocation to Bitcoin as part of its investment strategy, according to remarks attributed to Group Chief Investment Officer Maurice Gravier during an appearance on CNBC’s Squawk Box. The exploration underscores growing institutional interest in digital assets across the Middle East, though no final decision has been announced.
Emirates NBD Weighs Bitcoin Allocation
Crypto market commentator MartyParty reported on X that Gravier framed Bitcoin primarily as “digital gold,” emphasizing its potential role as a store of value rather than a transactional currency. Gravier reportedly cited Bitcoin’s proof-of-work security model, fixed supply, and structurally low inflation as attributes that have strengthened its investment case for institutions.
Rationale and Valuation
According to the summary of Gravier’s comments, Emirates NBD views Bitcoin as a maturing asset class with characteristics comparable to traditional hedges. He also indicated that the asset’s current valuation appears more attractive than it did six months ago, when prices were considered elevated, while cautioning that market volatility remains a key consideration.
Potential Sizing and Next Steps
The bank’s asset management division reportedly oversees about $16 billion in assets. Any allocation to Bitcoin, if approved, would be limited in size and aimed at diversification, per the commentary. An internal model referenced in the summary suggests Bitcoin could plausibly approach the $100,000 range within the next 12 months, though these projections are still being refined. Emirates NBD has not disclosed a timeline and is continuing its review.
Lightning Network Usage Hits Record Levels
Separately, Bitcoin’s Lightning Network reached a reported milestone in November, surpassing $1 billion in monthly transaction volume for the first time. Analyst Fernando Nikolić estimated approximately $1.17 billion moved across 5.2 million transactions, with the average transaction size rising year-over-year from about $118 to $223. Nikolić argued that the growth indicates increasing business and exchange usage of the layer-2 payments network, even amid shifting market narratives. Because Lightning is an off-chain protocol, public volume figures are generally based on estimates rather than comprehensive on-chain data.