Canadian Firm Adds $1M in Bitcoin to Treasury Amid Growing Corporate Adoption

Jimmy Aki
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Jiva Technologies, a Canadian wellness and e-commerce company, has decided to invest up to $1 million in Bitcoin as part of its corporate treasury strategy.

Jiva Technologies Embraces Bitcoin Treasury Strategy

Jiva Technologies CEO Lorne Rapkin said, “As Bitcoin continues to gain traction as a widely accepted and trusted asset class, we see a unique opportunity to strengthen our treasury with a resilient and innovative investment.” He emphasized Bitcoin’s “inherent scarcity and finite supply,” which positions it as a safeguard against economic volatility.

Jiva Technologies, which recently rebranded from PlantX Life, specializes in wellness-focused ventures. The company owns Bloombox Club, an online plant delivery service operating in the U.S., UK, and Europe.

Additionally, the firm has partnered with Kale Coin, an Ethereum-based cryptocurrency designed specifically for the wellness industry, further showcasing its interest in blockchain and cryptocurrency initiatives.

Jiva Technologies is not alone in adding Bitcoin to its corporate treasury.

Several companies have recently taken similar steps, signaling an increase in institutional interest in cryptocurrency.

For example, Rumble, a video-sharing platform, approved a $20 million Bitcoin allocation from its cash reserves on November 25.

Similarly, Hoth Therapeutics, a biopharmaceutical company, announced on November 20 about its plans to allocate $1 million to Bitcoin, citing its “inflation-resistant characteristics.” Genius Group also invested $10 million to acquire 110 Bitcoin on November 18, emphasizing its potential as a long-term store of value.

Lorne Rapkin highlighted the broader market dynamics supporting Bitcoin’s adoption.

“The potential for favorable regulatory frameworks and increased institutional adoption makes Bitcoin an ideal asset for corporate treasuries seeking inflation-resistant stores of value,” he noted. He also pointed to the growing interest in Bitcoin exchange-traded funds (ETFs).

Bitcoin’s Role in Treasury Management

Bitcoin’s fixed supply of 21 million coins and its decentralized nature make it an attractive option for companies looking to diversify their treasuries.

Its reputation as “digital gold” has grown as corporations and institutional investors explore it as a hedge against rising inflation and economic instability.

Despite the risks associated with price volatility, companies like Jiva Technologies see Bitcoin as a forward-thinking investment. According to Rapkin, the decision to invest in Bitcoin aligns with Jiva’s vision of innovation and resilience, especially during uncertain economic times.

Bitcoin’s integration into corporate treasury strategies also reflects its maturation as a financial asset. Analysts suggest that growing regulatory clarity and institutional interest are likely to boost its adoption further.

Jiva Technologies’ announcement immediately affected its stock price, which rose by 36.4% to $0.33, as reported by Google Finance. The market response underscores the positive sentiment surrounding companies that integrate Bitcoin into their business strategies.

Furthermore, MicroStrategy, a business intelligence firm known for its massive Bitcoin investments, recently added 55,000 BTC to its holdings, spending $5.4 billion between November 18 and 24. This brings its total Bitcoin treasury to 386,700 BTC, purchased at an average price of $56,761 per coin.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.