Michael Saylor has expressed his optimism over India’s Jetking adopting the Bitcoin Standard. The move comes as another firm that has decided to keep Bitcoin as an asset resrve.
As Bitcoin’s popularity has seen a rise across the globe, more and more corporate players have jumped on the bandwagon to ensure that they can keep an asset that can act as a hedge against inflation.
Jetking’s Decision To Include Bitcoin in Its Treasury
The well-known Indian software business Jetking had taken a historic step by becoming the first publicly traded company in the nation to use the Bitcoin Standard.
Thanks to this audacious move, Jetking is now at the forefront of India’s changing cryptocurrency scene. Jetking hopes to take advantage of Bitcoin’s growth and stability potential by using it as a major part of its financial plan.
The company further said that choices concerning Reserve Management, such as the quantity, time, and cost of Bitcoin purchases and sales, as well as its administration, were to be reviewed and approved by designated officers within the organization.
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Jetking’s Move in Tandem With Michael Saylor’s Strategy
Jetking’s move to keep Bitcoin as a part of its treasury has likely taken inspiration from Strategy.
Strategy (Previously MicroStrategy), the company founded by Michael Saylor, has taken a novel approach by consistently collecting Bitcoin as a key asset.
With consistent purchases since 2020, the corporation has accumulated more than 471,000 Bitcoins to date. Saylor sees Bitcoin as a long-term asset that performs better than conventional currencies, a store of money, and an inflation hedge.
His audacious action demonstrates his faith in Bitcoin’s ability to completely transform the world financial system. Other businesses are keenly observing MicroStrategy’s strategy, which has generated a lot of interest in cryptocurrencies.
The continued dedication of Saylor’s company demonstrates his conviction that Bitcoin will play a significant role in corporate balance sheets in the future.
Corporates Bank on Bitcoin as Global Demand Rises
Businesses have become increasingly interested in holding Bitcoin as a reserve asset in recent years. Prominent corporations, such as MicroStrategy and Tesla, have garnered media attention for acquiring substantial quantities of Bitcoin in order to diversify their balance sheets.
Bitcoin’s deflationary characteristics, potential as an inflation hedge, and standing as a store of value in unpredictable economic environments are the main drivers of this increase.
Businesses are beginning to see Bitcoin as an alternative to conventional cash reserves and as a long-term asset with appreciation potential. Bitcoin is becoming more and more recognized as a genuine digital alternative to gold as institutional usage increases.
Also Read: Publicly Traded Company Semler Scientific Invests Heavy in Bitcoin, Buys 871 BTC Worth $88.5M