Wellness and plant-based e-commerce company Jiva Technologies has approved a Bitcoin treasury strategy, with its board greenlighting up to $1 million in BTC investments.
CEO Lorne Rapkin stated on November 25,
“As Bitcoin gains traction as a trusted and widely accepted asset class, we see a unique opportunity to strengthen our treasury with this resilient and innovative investment.”
Rapkin further emphasized that Bitcoin’s inherent scarcity and limited supply make it a modern hedge against inflation and a haven during economic uncertainty. He highlighted the potential for favourable regulatory frameworks and increasing institutional adoption, noting that Bitcoin exchange-traded fund inflows have surged, exceeding $30 billion since their launch.
“This underscores Bitcoin’s value proposition and reinforces our belief that it is an ideal asset for corporate treasuries seeking inflation-resistant stores of value.”
He added.
Jiva Technologies focuses on building online wellness communities and creating immersive physical environments, emphasizing joint ventures to support wellness brands. Formerly known as PlantX Life, the company rebranded in early November and now owns and operates Bloombox Club, an online plant delivery marketplace serving the U.S., U.K., and Europe.
This news follows a recent development on November 11, when Jiva Technologies announced a joint venture with Kale Coin (KALE), an Ethereum-based cryptocurrency explicitly designed for the wellness industry. According to Google Finance, Jiva’s stock surged 36.4% to $0.33 after the announcement.
The firm is now one of the latest companies to join the growing trend of investing in Bitcoin as part of their corporate treasury strategies. Similarly, MicroStrategy, the largest corporate holder of Bitcoin, recently announced its bold “21/21 Plan,” aiming to raise $42 billion over the next three years. The company’s Q3 2024 earnings report outlines a plan to raise $21 billion through equity sales and another $21 billion through fixed-income securities to enhance the company’s BTC Yield.
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