The National Bank of the UAE has opened up the possibility of allocating Bitcoin in its investment process.

PANews reported on February 24 that an executive from Emirates NBD stated in an interview with CNBC that the bank has opened up the possibility of allocating Bitcoin in its investment process, viewing it as a store of value and "digital gold," acknowledging its proof-of-work mechanism, limited supply, and low inflation characteristics.

The executive stated frankly that Bitcoin's current valuation is more attractive than it was six months ago, when its price was excessively high. He revealed that the bank's internal fair value model indicates a reasonable price for Bitcoin within 12 months could approach $100,000, and the bank is still refining the model. He also indicated that the bank has not yet finalized its Bitcoin allocation, but if it is included in its portfolio in the future, it will be in a limited proportion. This is because Bitcoin is correlated with market risk appetite and exhibits extremely high volatility, while the bank prioritizes portfolio diversification.