Indian company Jetking recently made a significant move in the cryptocurrency market by announcing its intention to raise funds for Bitcoin.
Investments in Bitcoin
Jetking raised ₹6.10 crore (about $760,000) through a preferential share issuance explicitly aimed at purchasing Bitcoin. The company currently holds 21 BTC valued at approximately ₹13.6 crore ($1.6 million). This step positions Jetking as one of the first public companies in India to officially invest in cryptocurrency.
Real Estate Sale Rumors
Despite viral claims regarding a $6 million real estate sale to finance the Bitcoin purchase, these assertions are unsubstantiated. Verified financial disclosures and reputable media sources do not indicate that Jetking possesses real estate of such value.
Implications for Business
Jetking's transparent approach to Bitcoin investment may set a precedent for other Indian companies considering cryptocurrency as part of their strategy. However, the initial rumors concerning real estate sales have proven groundless.
In conclusion, Jetking has chosen to invest in Bitcoin, dispelling mythical real estate sale rumors while showcasing the growing interest of Indian businesses in cryptocurrencies.
