Rabi

2024

Bitcoin

Reserve

<p class="is-style-lead">Jetking Infotrain, a 77-year-old Indian IT training company, has become the first publicly listed business in India to adopt Bitcoin as part of its corporate treasury strategy.</p>
<p>The company <a href="https://pbs.twimg.com/media/GeXKobfWIAA6KSj?format=png&amp;name=small" target="_blank" rel="noopener noreferrer nofollow">announced</a> the purchase of 12 Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noopener noreferrer nofollow">BTC</a>), valued at approximately $1.2 million, signaling a shift in how Indian companies approach digital assets.</p>
<p>Jetking, with a $5 million market cap and $2 million in annual sales, has designated Bitcoin as its Primary Treasury Reserve Asset. Companies worldwide <a rel="noopener noreferrer nofollow" href="https://crypto.news/genius-group-expands-bitcoin-holdings-to-18m-in-bitcoin-reserve/">have started adding Bitcoin</a> to their balance sheets to diversify their assets and hedge against inflation.&nbsp;</p>
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   <p lang="en" dir="ltr">Jetking Infotrain, a 77-year-old Indian company with a $5M mkt cap &amp; $2M in annual sales, has become the first pubco in India to adopt the Bitcoin Treasury Strategy. <br><br>The microcap says that BTC will be the Primary Treasury Reserve Asset. <a rel="noopener noreferrer nofollow" href="https://t.co/hMmPIvWgVQ" target="_blank">pic.twitter.com/hMmPIvWgVQ</a></p>— matthew sigel, recovering CFA (@matthew_sigel) <a href="https://twitter.com/matthew_sigel/status/1866121318577385626?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">December 9, 2024</a>
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<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/wyoming-seeks-developers-for-state-backed-stablecoin/"> Wyoming seeks developers for state-backed stablecoin </a></p>
<h2 class="wp-block-heading" id="bitcoin-as-a-company-strategic-reserve">Bitcoin as a company strategic reserve</h2>
<p>Jetking’s approach aligns with trends seen at firms like <a href="https://crypto.news/tag/microstrategy/" target="_blank" rel="noopener noreferrer nofollow">MicroStrategy</a>, which are <a href="https://crypto.news/saylors-microstrategy-added-2-1b-in-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">using Bitcoin</a> to enhance their treasury diversification in response to changing economic conditions.&nbsp;</p>
<p>In the announcement, Jetking emphasized its intention for Bitcoin to serve as the company’s primary reserve asset.</p>
<p>Jetking’s decision could pave the way for other companies in India. Unlike some global firms such as MicroStrategy, Tesla, and Coinbase that have embraced Bitcoin treasury strategies, Indian businesses <a href="https://crypto.news/new-turmoil-swings-indian-crypto-exchanges-in-balance/" target="_blank" rel="noopener noreferrer nofollow">have approached</a> this area with more caution.</p>
<p>In November, the Reserve Bank of India <a href="https://crypto.news/indias-central-bank-signals-no-rush-for-digital-currency-implementation/" target="_blank" rel="noopener noreferrer nofollow">issued a caution</a> regarding the rollout of its central bank digital currency, emphasizing the need to fully understand its potential impacts. Deputy Governor T. Rabi Sankar acknowledged the technology’s promise to enhance cross-border payments and remittances but clarified that no specific timeline has been established for its implementation.</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/tether-109-million-on-chain-wallets-hold-usdt/"> Tether: 109 million on-chain wallets hold USDT </a></p>

Jetking Infotrain becomes first Indian public company to hoard Bitcoin

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