India jetting recently added Bitcoin to its reserves very recently. And this decision drew the attention of the co-founder of strategy and president Michael Saylor.
Siddarth Bharwani is the joint and financial director general of Jetking, the first company listed on the stock market in India to adopt Bitcoin.
Today, on February 10, 2025, Saylor posted on the Bitcoin Jetking movement on X.
Jetking is the first company listed on India to adopt the Bitcoin standard. Financial director @Sidbharwani of @Jetkingltd Explain why in the interview below:
Timecodes:
00:00 – Intro
01:53 – The history of jetking; Who is Siddarth Bharwani?
04:47 – Why adopt Bitcoin for Jetking balance… pic.twitter.com/zvytoEhimx– Michael Saylor
(@Saylor) February 9, 2025
(@Saylor) Explore: India reconsiders cryptographic regulations, but the 2025 budget disappoints the cryptography industry
The choice of jetking complies with the approach of Saylor and Strategy
In a bitcoinhub podcast released on February 7, 2025, Bharwani was invited to know why he made the decision to include Bitcoin in the Jetking portfolio. According to Bharwani, WHen Covid arrived in 2020, almost 75% of the company was to close.
“In just 12 months, an inheritance built over almost three decades was closed, in three months, literally,” he said.
To make the company “Ball test” and to secure the future of the company, Bharwani began playing with Bitcoin.
The choice of jetking is consistent with the approach of the strategy (microstrategy), the company registered in the United States led by Saylor, a long-standing supporter of Bitcoin.
Meanwhile, the strategy announced the resumption of Bitcoin’s purchases after a week -long break. In a post on xSaylor said they had acquired around 7,633 Bitcoin, valued at around $ 742 million.
In his February 5, 2025 Report on resultsThe strategy revealed $ 120.7 million in income, a drop of 3% from one year to the next, lacking analysts’ expectations of around $ 2 million.
The company awarded its massive expenses of the fourth fourth fourth to the fourth quarter – which increased by almost $ 1.1 billion – to the execution of its “21/21 plan”, an ambitious initiative targeting to collect $ 42 billion in capital over three years to feed its accumulation of bitcoin.
Above all, according to the strategy, $ 20 billion in this capital plan have already been guaranteed.
Blackrock increases participation in the 5% strategy
A SEC file revealed that BlackRock has also increased its participation in the strategy, formerly Microstrategy, at 5%.
As of February 6, 2025, the company holds around 11.2 million shares. This went from 4.09% in September 2024.
After disclosure, strategy actions increased 2.8% in trading before the market, reaching $ 331.90 per share.
Explore: Blackrock set to launch ETP linked to Bitcoin in Europe: increases the 5% strategy
The position that is Siddarth Bharwani? And why does Michael Saylor promote the Bitcoin strategy of an Indian company? appeared first on 99Bitcoins.
