Indian company Jetking Infotrain has announced plans to acquire more Bitcoin through fundraising, reinforcing its commitment to digital assets.
Bitcoin Acquisition Plan
Jetking confirmed that the raised funds aim to purchase additional Bitcoin for its reserves. The initial purchase of 12 BTC in December 2023 was made at an average price of $97,986.35, accounting for over 26% of the company's market cap at the time.
Regulatory Discussions and Legal Input
To ensure compliance, Jetking is in discussions with Indian authorities. Crypto lawyer Suril Desai, involved in the legal case of Unocoin vs. RBI, is leading these talks. The main focus is on compliance with local laws while expanding the company's crypto reserves.
Jetking's Financial Performance
Jetking reported a profit of $366,520 in Q1 2023 and a 39% rise in operating income. The company went public in 1986, with origins dating back to 1947 in electronics trading.
Jetking is actively deepening its crypto-related strategy while undergoing consultations to formalize this approach.
