Emirates NBD: Views Bitcoin as a Store of Value and "Digital Gold"

Odaily News Emirates NBD executives stated that the bank has opened up the possibility of allocating Bitcoin within its investment process, viewing it as a store of value and "digital gold," and acknowledging its proof-of-work mechanism, limited supply, and low inflation characteristics. The executive candidly remarked that Bitcoin's current valuation is more attractive than it was six months ago, as its price was too expensive back then. He revealed that the bank's internal fair value model indicates a reasonable price for 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 the execution of a Bitcoin allocation, but if it is included in the portfolio in the future, it will be done with a limited proportion. The reason is that Bitcoin correlates with market risk appetite and exhibits extreme volatility, while the bank pursues portfolio diversification.