Jetking Private Limited’s Joint Managing Director & CFO, Siddarth Bharwani, has sparked excitement in the Indian diaspora by sharing the company’s Bitcoin acquisition strategy, daily buy at any price (DBAAP).
(Source: X)
He writes in a post on X, “Every day at close of business hours, we allocate excess from our operating business to Bitcoin. Doesn’t matter the price. No speculation. No timing. Just turning excess fiat into BITCOIN.”
Currently, Jetkings holds 23 Bitcoins under this BAAP plan, encouraging other Indian businesses to add digital gold to their balance sheet.
Jetking: First Publicly Traded Indian Company to Adopt Bitcoin
In December, Jetking announced plans to raise $793,000 through a preferential share issue to bolster its Bitcoin reserves and fund cryptocurrency-related initiatives. The move marks a significant step in the company’s aggressive crypto investment strategy, making it one of the first Indian publicly listed firms to actively accumulate Bitcoin as part of its treasury policy.
At that time, Jetking will issue 428,622 equity shares at ₹154 per share (₹10 face value + ₹144 premium) to promoter groups and select non-promoters.
The issuance follows the SEBI (Securities and Exchange Board of India) guidelines and the Companies Act, 2013.
Bitcoin purchases, a major portion will be allocated to daily Bitcoin acquisitions.
Jetking adopted a “Bitcoin-only” treasury reserve policy in late 2024, following the footsteps of US firms like Strategy (MSTR) and Marathon Digital Holdings (MARA).
While countries like El Salvador, Bhutan, and the US are rigorously adding Bitcoin to their existing financial structure, the Indian crypto community is now expecting positive news from the Indian government.
Recently, Pradeep Bhandari, a national spokesperson of the Bharatiya Janata Party (BJP), appreciated the US government’s move to establish the Strategic Bitcoin Reserve (SBR). He said, “This isn’t a reckless pivot, it’s a calculated step toward embracing digital assets’ legitimacy. For India, observing this offers a lens to assess whether Bitcoin could diversify our reserves, complementing traditional holdings in an uncertain global economy.”
At the time of writing, Bitcoin is trading at around $113,700 with a 3.77% hike, creating another all-time high (ATH), according to CoinMarketCap.
Also Read: US Treasury Drops Controversial Crypto Reporting Rule
