- Jetking’s target to acquire 21,000 BTC by 2032.
- CFO predicts Bitcoin will surpass $1M.
- Regulatory talks ongoing for formalizing acquisitions.
Jetking Infotrain, a public company in India, targets acquiring 21,000 Bitcoins by 2032, indicated by CFO Siddarth Bharwani’s prediction of the cryptocurrency’s valuation over $1 million.
The plan underscores Jetking’s confidence in Bitcoin’s future, potentially influencing market dynamics and adoption, though current regulatory conversations remain ongoing without immediate major reactions.
India’s Jetking Infotrain has announced its ambitious intention to accumulate 21,000 Bitcoin by 2032. This significant move comes as the company’s CFO, Siddarth Bharwani, forecasts a Bitcoin price exceeding $1 million by that time. Jetking’s plan echoes similar ambitions previously seen in the market, including strategies discussed by Michael Saylor about Bitcoin’s market impact.
The company led by CEO Avinash Bharwani and CFO Siddarth Bharwani has publicized this goal as part of its strategic reserve plan. Both leaders emphasize their commitment to Bitcoin, asserting it as a key corporate treasury asset.
The potential impact of this strategy on the Bitcoin market involves considerable supply dynamics. Jetking’s planned accumulation could influence price trends and market sentiment over the coming years, which is being analyzed by services such as Lookonchain for its impact on blockchain activity.
Financial implications are significant, given that a full acquisition at $1 million per Bitcoin represents a $21 billion asset allocation. This reflects a profound commitment to crypto within their corporate financial strategy.
Discussions with Indian regulators underscore the necessity for compliance within this emerging market framework. Jetking is working actively to align with regulatory standards to ensure legitimacy in their asset-handling policies.
Drawing parallels with MicroStrategy’s previous moves in Bitcoin accumulation, Jetking’s strategy may further institutional trust in cryptocurrencies. Historical trends suggest possible increased adoption and confidence if this plan proceeds successfully.
“We are the first ones to do it, and we are kind of talking to the regulators…”, said Avinash Bharwani, CEO of Jetking Infotrain, highlighting the pioneering nature of their approach.
