Mubadala Investment Company Invests in Crypto Ecosystem
- Mubadala has invested in the crypto ecosystem including blockchain technology.
- CEO Khaldoon Al Mubarak said this in an interview today.
- Hopefully, this can increase the digital currency market value.
UAE-based Mubadala Investment Company has taken a deep dive into investing in the crypto ecosystem such as blockchain technology, energy usage, and more.
In a recent interview, the company’s Managing Director and Group CEO Khaldoon Al Mubarak disclosed the reason behind their swift move and their love to adopt the crypto ecosystem. This could be a monumental and predetermined effort to increase the general digital currency market value, according to the report.
I think, you know, this is a business that had, what $200 billion worth of crypto value two years ago, and it’s two and a half-trillion dollars today and growing. So I think while many people are skeptics, I don’t fall in that category.
Meanwhile, as the company begin to build a substantial portfolio in crypto and blockchain, Al Mubarak did not give any clue on how much funds they plan to spend. Instead, he mentions that their focus is not on the fund to be used, their main priority is on the infrastructure.
Mubadala’s CEO tells CNBC he’s not a crypto skeptic pic.twitter.com/rfT5nLjqur— CNBC Middle East (@CNBCMiddleEast) December 13, 2021
Furthermore, in the discussion, he reveals that they are commercially focused on the ecosystem around crypto. This perspective is why they spent their time investing in it. The crypto space has a strong hope that investing in blockchain can make the company more decentralized in its operation.