First Indian Public Company Buys Bitcoin
12/10/2024 00:58Corporate Bitcoin adoption comes to India
Corporate Bitcoin adoption comes to India
Jetking Infotrain, a 77-year-old Indian company that specializes in IT training, has adopted Bitcoin as a treasury reserve asset.
According to its Monday announcement, the company will hold a majority of its assets in the largest cryptocurrencies.
This is the latest sign that corporate Bitcoin adoption is becoming more global.
Public companies now hold a total of 2.6% percent of Bitcoin's supply.
MicroStrategy, the prominent business intelligence firm run by charismatic billionaire Michael Saylor, is the top corporate owner of the leading cryptocurrency by an enormous margin.
As reported by U.Today, MicroStrategy's Bitcoin holdings have now eclipsed the $42 billion mark.
Apart from MicroStrategy, other American companies are among the top Bitcoin holders. These companies include Marathon Digital, Riot Platforms, Tesla, and Coinbase.
Two Canadian companies (Hut 8 Mining and Galaxy Digital) are also in the top 100.
Bitcoin Group SE, a German investment holding company, is the largest Bitcoin holder outside of North America.
China's Boyaa Interactive is the largest holder of the flagship cryptocurrency in Asia with a total of $310 million.
BitFuFu, which recently reported owning 1,664 BTC, and Japanese public company Metaplanet are also among Bitcoin's top Asian holders in the corporate sector.
India, however, is known for its hostile stance toward cryptocurrencies. In October,the Hindustan Times reported that leading Indian institutions and regulators were considering implementing another Bitcoin ban.
About the author
Alex Dovbnya
Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].
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