UAE Goldman Lampe Bank acquires $137 million in BTC

UAE based Goldman Lampe Private Bank, operating out of Ras Al Khaimah, has acquired approximately €120 million worth or $137 million worth of Bitcoin, which they note it strategically timed to take advantage of the recent cryptocurrency market correction. This comes as virtual asset experts in the UAE and GCC region are commenting that Sovereign wealth funds are acquiring Bitcoin as well.

According to their press release, the Bitcoin purchase highlights the bank’s strong conviction in the long-term potential of digital assets and its proactive approach to portfolio optimization for high-net-worth clients. The bank notes that it is buying the dip.

Abdullah Hamad Al Shamdi, Chairman of the Board at Goldman Lampe Private Bank noted that Bitcoin is resilient as a store of value and a strategic asset. He explained, “By capitalizing on this market dip, we are not only enhancing our institutional holdings but also reaffirming our leadership in bridging traditional private banking with cryptocurrency solutions. As the first bank globally to offer crypto term deposits, we remain dedicated to providing our clients with secure, regulated access to digital assets.”

The bank offers cryptocurrency term deposits with competitive yields on digital asset holdings with full regulatory compliance.

Today Dara Campbell, Managing Partner at Hashgraph Ventures based out of ADGM which has launched a $100 million fund for Web3 startups in MENA and globally, noted on LinkedIn that “I can almost guarantee that the Gulfs SWF’s ( Sovereign Wealth Funds) are accumulating spot Bitcoin whilst the price is down.”

Speaking to Lara on the Block he noted, “There are a number of sovereign wealth funds and family offices I’ve spoken with who have confirmed their commitment to Bitcoin specifically. This correction is being read not as an opening, a lower cost of accumulation for institutions that were already convinced of the thesis. What I’m hearing reflects a genuinely bullish posture and an unwavering dedication to the asset class irrespective of where the price sits today. The conviction doesn’t move with the candles.”

This should not be surprising as in May of this year, UAE Mubadala, the Abu Dhabi sovereign wealth fund increased its position in Bitcoin through BlackRock’s iShares Bitcoin Trust ETC, ticker symbol IBIT. As of March 2026, it now has 14,721,917 shares up from 12,702,323 shares, worth $565 million at current prices.

Mubadala raised its stake in IBIT by 16%. The iShares Bitcoin Trust ETF (IBIT) manages approximately (\$66.7) billion in assets, making it one of the largest and fastest-growing ETFs in market history. In 2025 ADIC, held 2.4 million shares in early September, increased its investment to almost 8 million shares at the end of September. Today ADIC has kept its IBIT position flat.

The sentiment is echoed by the Basil Al Askari Co Founder and CEO of Midchains a digital asset service provider regulated and operating out of UAE, who confirmed that at least one sovereign wealth fund is already accumulating Bitcoin, and a second may join in the coming weeks. Al Askari told Cointelegraph he has confirmed that at least one sovereign wealth fund has been building a Bitcoin position, and he expects a second fund could begin accumulating in the coming weeks.

Al Askari stated that sovereign wealth funds collectively control more than $13 trillion in assets and described the current lower price environment as an opportunity for large funds to enter the market. He also added that the accumulation, sends “a very clear signal” to other institutions that may be sitting on the sidelines and looking at these larger funds as leaders.

Michael Saylor CEO of Strategy also remains characteristically unfazed despite the massive dip for Bitcoin which feel below 60K. On Sunday morning, he posted Strategy’s signature orange-dot acquisition chart on X. He captioned it with a familiar phrase: “We’re gonna need more charts.” It sends a clear message to the market. Strategy views this deep market dip as a massive buying opportunity rather than a reason to panic.