Indian IT training institute Jetking, known for over 25 years, begins actively investing in Bitcoin. This decision is a response to global financial challenges and interest in decentralized finance.
Origins of Jetking's Interest in Decentralization
According to Jetking's CFO Siddarth Bharwani, the company has had an interest in peer-to-peer systems since the Napster era. When Bitcoin emerged, its decentralized structure attracted Jetking's leadership. By 2017, they began exploring Bitcoin options, but the significant turning point came when Michael Saylor institutionalized Bitcoin at MicroStrategy. 'It was Michael Saylor's move to institutionalize Bitcoin that shifted our perspective—viewing Bitcoin not just as technology, but as a transformative treasury asset.'
Pandemic and New Financial Mindset
Jetking's pivot to Bitcoin was not just a whim; it was essential for survival. The pandemic severely affected the company's operations, erasing 40 years of physical expansion in just a year. In March 2022, Jetking officially acquired Bitcoin as a treasury asset. 'We looked at Bitcoin and saw it as the hardest money available on earth. We decided to include Bitcoin in our balance sheet.'
Ambitious Bitcoin Accumulation Strategy
Jetking has an ambitious plan to accumulate 210 Bitcoin by 2025 and eventually reach 18,000 Bitcoin by 2030. 'Capital efficiency is maximized through funding, cash flow recycling, and market-hedged exposure while controlling dilution and enhancing shareholder value long-term.'
Jetking's strategy for accumulating Bitcoin demonstrates its readiness to adapt to new financial realities and leverage decentralized assets, creating long-term value for its shareholders.
