A UAE sovereign wealth fund CEO has recently indicated a bullish stance towards crypto assets and the blockchain ecosystem.
Mubadala Investment Company, a state-owned holding company, has recently made some investments in the emerging industry, CEO Khaldoon al-Mubarak confirmed in an interview with CNBC. He noted:
“I think its (crypto) is real, this is a business that had $200 billion worth of value two years ago, and is $2.5 trillion value today and growing. So while many people are skeptics, I do not fall in that category.”
The state-owned company currently has AED 894 billion ($243 billion) in assets under management, making it one of the largest wealth funds in the world. The CEO did not provide further details, such as the amount it is planning to invest in the ecosystem.
Mubadala’s CEO tells CNBC he’s not a crypto skeptic pic.twitter.com/rfT5nLjqur
— CNBC Middle East (@CNBCMiddleEast) December 13, 2021
“From our perspective, I think we look at the ecosystem around crypto. And I think we are investing in that ecosystem. That could be that’s in the block-chain technology, energy usage, etc.,” Al-Mubarak later added.