Standard Asset Company unveils $1.5B Bitcoin and UAE property strategy
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Share Standard Asset Company has announced an anticipated $1.5 billion strategy combining a Coinbase-managed Bitcoin reserve with UAE real estate investments, with a Dubai royal family member among its backers. Standard Asset Company's announcement, published by Gulf News on Oct. 27, places its headquarters in Abu Dhabi Global Market. The proposed investment portfolio covers both digital assets and property, without specifying the amount allocated to each. Coinbase Asset Management has been appointed exclusive manager of SAC's Bitcoin holdings, according to the announcement. SAC lists Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, a member of Dubai's royal family, among its advisers and shareholders. Other participants include former White House chief of staff Mick Mulvaney, Coinbase Institutional co-CEO Brett Tejpaul and British House of Lords member Lord Iain McNicol. "We are excited to support SAC as their exclusive Bitcoin asset manager," Tejpaul said in the announcement. The sheikh said returns from the digital asset strategy would support hospitality and real estate investments in the Emirates. SAC's published strategy describes a long-term Bitcoin reserve built through phased purchases, with entry decisions based on valuation and available liquidity. Its proposed managed yield strategy seeks income while accounting for liquidity and counterparty exposure. Retained...
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