Financial Insights That Matter
- Jetking has become the first publicly listed Indian company to adopt Bitcoin as its standard.
- Micheal Saylor advocates for jetkings as it plays similar roles as Micro strategy.
Micheal Saylor, executive chairman and co-founder of MicroStrategy, shared a post on x saying jetking is the first publicly traded company to adopt the Bitcoin standard.
Dec 9th, Jetking Infotrain announced a new beginning and marked a milestone as India’s first publicly listed firm to integrate Bitcoin (BTC) into its treasury, acquiring 12 BTC, and designated Bitcoin as its primary treasury reserve asset. Max Keiser at the Bitcoin Conference MENA in Abu Dhabi, asked Bharwani about this and he stated that Jetking Infotrain’s treasury would mix equities and BTC to boost the company’s price in the long term.
How Jetking’s Adoption Boosts Market Activity and Institutional Trust
Jetking’s CFO Siddarth Bharwani, In an interview shared on Michael Saylor’s x account, he emphasized on the company’s reasons to integrate BTC into its strategy. Highlighting points like Why Jetking’s balance sheet is adopting BTC?
What plans do they have if BTC crashes? and how Jetking wants to educate Indians through Bitcoin & AI. Due to this news, there was a surge in Bitcoin prices and popular trading platforms like Binance and Coinbase, trading volume increased by 20%, with 35,000 BTC changing hands in just two hours. This move shows how the market thrives on institutional adoption, especially publicly traded companies.
Utilizing Bitcoin as a strategic asset for corporate reserves
It could be said that the support Micheal Saylor is showing to Jetkings can be due to the similarity between Jetkings and Microstrategy as they are both using BTC to enhance their treasury diversification to help change economic conditions. In the announcement late December, Jetking laid emphasizes on its intention for BTC to serve as the company’s primary reserve asset. This decision would help pave the way for other companies in India.
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