Mumbai-based Jetking Infotrain Limited has announced plans to increase its Bitcoin assets by ₹6.6 crore ($793,000).
Strategic Bitcoin Investments
Jetking has approved a 'Strategic Fund Raise' to accelerate the acquisition of digital assets. The company will issue 428,622 equity shares at ₹154 each to select investors. This capital is aimed at Bitcoin purchases and the development of cryptocurrency education programs.
Jetking's Journey to Bitcoin
Founded in 1947, Jetking transitioned from electronics manufacturing to IT education in 1990. In December 2024, it became the first Indian public company to add Bitcoin to its balance sheet, leading to a 20% surge in its stock price, demonstrating the potential of its crypto strategy.
Criticism and Skepticism
Some analysts are skeptical about Jetking's Bitcoin investment. Analyst ZachXBT questioned the significance of this move. In response, CFO Siddarth Bharwani compared the situation to MicroStrategy's early days and suggested waiting 12 months before drawing conclusions.
Jetking's decision could mark a turning point for Indian companies. If successful, their strategy might push others to more actively adopt digital assets.
