In a bid to potentially pump billions of dollars into the worldwide crypto markets, Abu Dhabi's largest government-owned investment firm Mubadala Investment Company has confirmed that it is investing its assets in cryptocurrencies and blockchain-based ecosystem.
During an interview with US broadcaster CNBC, Khaldoon Al Mubarak, CEO of Mubadala Investment Company, stated that while many people are skeptics about bitcoin he did not fall into that category.
When speaking of cryptocurrencies, Al Mubarak stated, "I see it as real...I think the regulatory environment that isn’t there yet in its final form, [and] that will have to be there at some point, I think will come in and will help, I think, transition this asset class into something new.”
The business sought to understand the blockchain ecosystem and was investing in it, as stated by Mr. Mubarak. It might be the blockchain technology, energy usage, or anything else.
According to Mubadala Investment Company, its investment approach is focused “towards the future, with aspirations to double the portfolio's size in the coming decade." The UAE firm's continuing involvement with cryptocurrency might help it meet this objective.
Mubadala Investment Company is a state-owned investment firm with headquarters in Abu Dhabi, the United Arab Emirates' oil-rich capital. It manages a wide range of assets and investments in the UAE and abroad.
With investments in over 50 countries across the world, the Emirati fund has a total of USD 243 billion worth of assets under management.
The firm, based in the United Arab Emirates, has offices in London, Rio de Janeiro, Moscow, New York City, San Francisco, and Beijing. The government of Abu Dhabi owns Mubadala Investment Company.