As a seasoned investor with over three decades of experience under my belt, I find Jetking Infotrain’s decision to adopt Bitcoin as primary treasury asset truly intriguing. Having witnessed the tech boom of the 90s and the dot-com bubble burst, I’ve learned to keep an open mind when it comes to innovative financial strategies.
Jetking Infotrain, an Indian educational institution specializing in IT training, has made history by being the first publicly traded company in India to use Bitcoin as its primary reserve currency.
On the 9th of December, 2024, the 77-year-old tech firm acquired about 12 Bitcoins, which were roughly equivalent to $1.2 million. Currently, the company’s estimated worth is around $4.5 million.
Despite the fact that this Bitcoin investment is relatively modest, it accounts for more than 26% of its total market value. This move by Jetking aligns with a growing trend among tech firms to integrate Bitcoin into their financial strategies.
Following this announcement, the stock price of Jetking surged by 30%, reaching a five-year high.
Jetking Infotrain, founded in 1947, is a company dedicated to IT education and talent nurturing. Originally focusing on electronics and tech, it later expanded into fields such as networking, cybersecurity, and cloud computing. With over 700,000 students trained so far, Jetking plays a significant role in helping individuals launch fulfilling careers in the technology sector.
The business currently values Bitcoin as its premier investment, aligning with a worldwide movement where technology companies are adopting cryptocurrencies to reap financial benefits. Although the company’s yearly revenue stands at around $2 million, this strategic move has sparked interest among investors and financial experts alike.
Yet, emulating Jetking’s strategy could potentially prove difficult for other Indian companies, given the stringent nature of India’s cryptocurrency regulations. These include a 30% tax on crypto profits and ongoing regulatory ambiguities.
From my perspective as an analyst, I find that India appears to be adopting a more measured approach towards cryptocurrencies than countries such as the United States. In stark contrast, businesses like MicroStrategy, Tesla, and Coinbase in the U.S. have proactively integrated Bitcoin into their corporate reserves.
Read More
- PYTH PREDICTION. PYTH cryptocurrency
- Smino and Samara Cyn To Hit the Road on ‘Kountry Kousins’ Tour
- POL PREDICTION. POL cryptocurrency
- Solana L2 Sonic includes TikTok users in airdrop
- Ananya Panday claims ‘its tough being Bhidu’ after working with Jackie Shroff; find out why
- Blockaid new dashboard to track Web3 activity and threats
- XRP price slips as RLUSD market cap hits $53m, liquidations rise
- The Vampire Diaries Nina Dobrev Reunited With Co-Stars To Recreate Throwback Photo, And I’m Not The Only One Loving It
- EXCLUSIVE: Alia Bhatt in talks with Dinesh Vijan for a supernatural horror thriller; Tentatively titled Chamunda
- Cynthia Lummis calls for regulatory framework over Crypto
2024-12-12 18:44