UAE's Goldman Lampe Private Bank buys $137m in Bitcoin

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UAE’s Goldman Lampe Private Bank buys $137m in Bitcoin

July 1, 2026

DUBAI,— Goldman Lampe Private Bank has purchased about €120 million ($137 million) worth of Bitcoin, using a sharp price decline in the cryptocurrency market to build up its digital asset holdings.

The bank, headquartered in Ras Al Khaimah, UAE, is the first financial institution in the world to offer cryptocurrency term deposits.

The products have set a new standard in the private banking sector by giving clients regulated access to competitive returns on digital assets with full compliance.

Officials said the move reflects a deep conviction in the long-term potential of digital assets and a focused effort to grow investment portfolios for wealthy clients.

Abdullah Hamad Al Shamsi, Chairman of the Board at Goldman Lampe Private Bank, said Bitcoin has shown consistent strength as a store of value and a strategic asset.

“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,” Al Shamsi said.

“As the first bank globally to offer crypto term deposits, we remain dedicated to providing our clients with secure, regulated access to digital assets.”

Bitcoin opened June 2026 near $73,674 and fell to about $58,500 by the end of the month, a drop of roughly 18 percent.

The decline was driven by outflows from Bitcoin exchange-traded funds, a stronger U.S. dollar, rising interest rate expectations, and a broad shift by investors into artificial intelligence equities.

Photo: Creative Commons/Jonathan Borba/pexels

From a technical view, Bitcoin is trading below both its 20-month and 50-month exponential moving averages, patterns analysts associate with bearish pressure in the intermediate term.

The 50-day moving average sits above the current price and could act as a resistance level if Bitcoin tries to recover. The 100-month exponential moving average, however, remains below the current price, leaving the long-term structural trend intact.

Bitcoin has also fallen roughly $48,000 from its level one year ago, though that reflects a period of peak pricing in mid-2025.

Analysts describe Bitcoin as the only fully decentralized and independent digital coin, not owned by any company and free from any government control worldwide. It is widely referred to as digital gold and regarded as the only true store of value of its kind. Analysts also call it an unconfiscatable currency.

Goldman Lampe Private Bank was founded in 1934 and is a multi-award-winning boutique institution specializing in private banking, wealth management, and financial solutions for high-net-worth individuals.

Headquartered in Ras Al Khaimah, UAE, the bank also offers gold bullion trading and secure cryptocurrency services to clients worldwide.

The Bitcoin acquisition, officials said, cements the bank’s standing as a leader in cryptocurrency-integrated wealth management and signals growing confidence in digital assets within diversified investment portfolios.

(With files from globenewswire.com, Agencies)