Standard Asset Company unveils $1.5B Bitcoin and UAE property strategy

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. Summary Standard Asset Company plans to combine Bitcoin holdings with investments in UAE real estate. Coinbase Asset Management will exclusively manage the company’s Bitcoin reserve. Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum is among its advisers and shareholders. The company’s published strategy describes phased Bitcoin purchases and managed yield. 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. Standard Asset Company appoints Coinbase to manage Bitcoin 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, C...