- Public companies globally now hold 2.6% of Bitcoin’s supply, with MicroStrategy leading as the top corporate holder.
- Despite India’s historically cautious stance on cryptocurrencies, Jetking Infotrain’s decision marks a significant step in Bitcoin acceptance.
Jetking Infotrain, an established Indian IT training provider with a 77-year history, has recently declared its adoption of Bitcoin as a primary treasury reserve asset.
This decision marks a significant endorsement of Bitcoin within the traditional corporate sector and highlights the growing global trend of cryptocurrency integration into mainstream business operations.
As of the latest announcement, Jetking Infotrain plans to allocate the majority of its treasury assets into Bitcoin, reflecting a strategic shift towards digital asset investment amidst an increasingly crypto financial market.
Jetking becomes India’s🇮🇳 first publicly listed company to buy Bitcoin as treasury reserve asset. Coming up with a podcast with India’s Michael Saylor @ceojetking pic.twitter.com/3UzbpaQhxe
— Kashif Raza (@simplykashif) December 9, 2024
Jetking Infotrain not only diversifies its investment approach but also positions the company at the forefront of financial innovation in the corporate world.
The trend of companies investing in Bitcoin has been gaining momentum, with public companies now holding approximately 2.6% of Bitcoin’s total supply. Leading the corporate investment front is MicroStrategy, managed by CEO Michael Saylor, which holds over $42 billion in Bitcoin, making it the largest corporate holder globally.
This substantial investment underscores the growing confidence among businesses in Bitcoin’s value as a long-term asset.
Other prominent U.S. companies, including Marathon Digital, Riot Platforms, Tesla, and Coinbase, are also significant holders of Bitcoin, further cementing its acceptance and integration into corporate America. Additionally, Canadian firms such as Hut 8 Mining and Galaxy Digital are notable players in this arena, ranking within the top 100 global Bitcoin holders.
Outside of North America, Bitcoin Group SE in Germany stands as the top Bitcoin holder, while in Asia, companies like China’s Boyaa Interactive and Japan’s Metaplanet highlight the regional acceptance and investment in Bitcoin despite varying regulatory climates.
Despite India’s historically cautious and sometimes hostile stance towards cryptocurrencies, exemplified by ongoing discussions around potential Bitcoin bans and the focus on a central bank digital currency,
Jetking Infotrain’s bold move signals a potential shift in perception and adoption strategies within the country.
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The current price of Bitcoin (BTC) is $98,000, reflecting a 0.55% increase. It recently peaked at $103,650 but has retraced, finding support around $98,000, with the market showing resilience near key levels as it approaches $100,000 resistance.
