Mubadala Investment Company, one of the United Arab Emirates sovereign wealth funds CEO, said that he was not a crypto skeptic and expressed confidence about investments in associated infrastructure.
Mubadala will transition this asset class into something new
Overall, Mubadala has assets under the management of AED 894 billion ($243 billion), making it one of the biggest wealth funds in the United Arab Emirates and in the world. Al Mubarak said that the fund, whose headquarters in Abu Dhabi, is investing in the cryptocurrency ecosystem, including blockchain technology and energy use, but he did not provide specifics. Notably, it appears Mubarak considers the extraordinary rise in the value of the cryptocurrency market as a basis for his company’s sustained optimism about the future of digital currency. Watch the full interview: Mubadala CEO Khaldoon Al Mubarak speaks to CNBC’s Hadley Gamble in a wide-ranging interview
