Indian piers have recently added Bitcoin to their reserves very recently. And the move attracted the attention of Strategy co-founder and chairman Michael Saylor.
Siddarth Bharwani is the co-managing director and CFO of Jetking, the first publicly-published company in India that accepted Bitcoin.
Today, February 10, 2025, Saylor posted an X about Jetking's Bitcoin movement.
Jetking is India's first publicly traded company to adopt the Bitcoin standard. CFO @sidbharwani of @jetkingltd Please explain why in the interview below:
Time Code:
00:00 – Intro
01:53 – The story of the pier. Who is Siddarth Bharwani?
04:47 – Why Bitcoin is used for balance in Jet King… pic.twitter.com/zvytoehimx– Michael Sayler
(@saylor) February 9, 2025
Exploration: India's rethinking cryptocurrency regulations, but budget 2025 disappoints the crypto industry
Jetking's choice is consistent with the approach of Saylor and Strategy
On the Bitcoinhub podcast released on February 7, 2025, Bharwani was asked why he decided to include Bitcoin in Jetking's portfolio. According to Bharwani, lolHen Covid came in 2020, but almost 75% of the business had to close.
“In just 12 months, the heritage that was built over almost 30 years was closed in literally three months,” he said.
To “bulletproof” the business and secure the future of the company, Bharwani began messing around with Bitcoin.
Jetking's choice coincides with Strategic Approach (MicroStrategy), a US registrant led by longtime Bitcoin advocate Saylor.
Meanwhile, the strategy announced it would resume Bitcoin purchases after a week's suspension. In a post of xSaylor said it acquired around 7,633 Bitcoin, worth around $742 million.
Among them Revenue Report for February 5, 2025the strategy disclosed revenue of $120 million, down 3% year-on-year, with analyst expectations down about $2 million.
The company has launched a massive fourth quarter to implement the 21/21 Plan, an ambitious initiative aimed at raising $42 billion in capital over three years to promote Bitcoin accumulation. We believe that the costs of the project are due to the implementation of the 21/21 plan.
Importantly, the strategy already has $20 billion in this capital plan secured.
BlackRock will increase its strategy stake to 5%
The SEC filing revealed that BlackRock has increased its previous MicroStrategy strategy interest to 5%.
As of February 6, 2025, the company holds approximately 11.2 million shares. This is up from 4.09% in September 2024.
After disclosure, Strategic stocks rose 2.8% in pre-market trading to $331.90 per share.
Exploration: BlackRock to launch Bitcoin Link ETP in Europe: Increases strategy equity to 5%
Who is Sidarus Balwani? And why is Michael Saylor promoting the Indian company's Bitcoin strategy? It first appeared in 99 Bitcoin.
