Jetking Infotrain becomes first Indian public company to hold Bitcoin

Jetking Infotrain has made history by becoming the first publicly listed Indian company to adopt Bitcoin (CRYPTO:BTC) as its primary treasury reserve asset.

The 77-year-old IT training firm, with a market capitalization of approximately $5 million, announced its decision to incorporate Bitcoin into its financial strategy on December 9.

In a tweet, Matthew Sigel, Head of Digital Assets Research at VanEck, highlighted this groundbreaking move, stating, “Jetking Infotrain has become the first public company in India to adopt the Bitcoin Treasury Strategy.”

The company purchased 12 BTC, valued at around $1.2 million, which represents over 26% of its total market cap.

This decision aligns Jetking Infotrain with a growing number of global firms that view Bitcoin as a hedge against inflation and a viable alternative to traditional financial instruments.

CEO Avinash Bharwani emphasized the importance of this strategic shift during an interview, noting that the company aims to mix equities with Bitcoin to enhance its long-term value.

Despite regulatory uncertainties surrounding cryptocurrencies in India, Jetking’s move could inspire other companies to consider integrating digital assets into their financial strategies.

India's regulatory landscape remains complex, with the government implementing measures such as a 30% tax on crypto gains and a 1% tax deduction at source for transactions.

Nevertheless, India continues to lead globally in cryptocurrency adoption, with millions actively engaging in digital asset activities.

At the time of reporting, the Bitcoin price was $97,442.27.