Key Points
- Jetking Infotrain, an Indian IT training company, has integrated Bitcoin into its corporate treasury strategy.
- The company’s move signals a shift in the approach of Indian firms towards digital assets.
Jetking Infotrain, a long-established IT training firm in India, has become the first publicly traded Indian company to incorporate Bitcoin into its treasury strategy.
The firm recently publicized the acquisition of 12 Bitcoin, valued at around $1.2 million, indicating a change in Indian businesses’ attitude towards digital currencies.
Bitcoin as a Primary Treasury Reserve Asset
With a market capitalization of $5 million and annual sales of $2 million, Jetking has designated Bitcoin as its Primary Treasury Reserve Asset. This move mirrors a global trend where companies are adding Bitcoin to their balance sheets to diversify their holdings and hedge against inflation.
Jetking’s strategy is in line with practices observed in companies like MicroStrategy, which are leveraging Bitcoin to enhance their treasury diversification in response to evolving economic conditions.
In its announcement, Jetking underscored its plan for Bitcoin to function as the company’s main reserve asset.
Potential Influence on Other Indian Companies
Jetking’s decision could potentially influence other companies in India. Unlike global firms such as MicroStrategy, Tesla, and Coinbase that have adopted Bitcoin treasury strategies, Indian businesses have been more cautious in this area.
In November, the Reserve Bank of India issued a warning regarding the introduction of its central bank digital currency, emphasizing the need to fully comprehend its potential effects. Deputy Governor T. Rabi Sankar recognized the technology’s potential to improve cross-border payments and remittances but clarified that no specific timeline has been set for its implementation.
