Jiva Technologies announces a $1 million Bitcoin investment as part of its treasury strategy, aligning with growing corporate adoption.
Jiva Technologies, a leader in building wellness communities and immersive environments, has announced its decision to purchase up to $1 million in Bitcoin. This move is part of the company’s broader treasury management strategy. The Board of Directors’ green light was given to the purchase of Bitcoin due to its increasing adoption as an asset class.
CEO Lorne Rapkin explained that Bitcoin’s scarcity and finite supply make it a strong hedge against inflation and economic uncertainty. As for the reasons for this decision, he mentioned further growth in the use of Bitcoin, such as the emergence of Bitcoin ETFs and changes in legislation in this regard. Rapkin pointed out that Bitcoin aligns with Jiva’s strategic vision of the company as an innovator.
However, the above new Bitcoin investment shows that Jiva Technologies still concentrates on its main business operations. Bloombox Club, the plant subscription service, is still being scaled up, and the wellness centre in Squamish, British Columbia, is still being built. Jiva will also control its Bitcoins with a view of its conditions in the market and the cash flow requirements.
Jiva Joins Trend of Firms Using Bitcoin as Treasury Asset
Jiva’s action is part of a global trend of corporations adopting Bitcoin as part of their treasury management. Similarly, on November 22, Interactive Strength, which sells fitness brands CLMBR and FORME, signed off on a $5 million Bitcoin acquisition, up to 25% of the company’s average daily cash volume over the last three months. This decision is based on the fact that Interactive Strength sees Bitcoin as a store of value.
In the same way, Acurx Pharmaceuticals vowed to spend as much as $1 million on Bitcoin on 21 November. Similarly, on November 17, battery materials manufacturing firm Solidion Technology also adopted Bitcoin as part of its treasury policy as a hedge against inflation.
Moreover, the phenomenon of Bitcoin adoption in corporate treasury management is emerging. For instance, an education company, Genius Group Limited, embraced Bitcoin as its treasury reserve currency on November 14. This is part of a broader trend of companies incorporating digital assets into their balance sheets.
Lastly, companies are slowly starting to accept Bitcoin as an ideal digital currency investment and an inflation hedge. With increasing numbers of firms, such as Jiva Technologies and Interactive Strength, adopting Bitcoin in their business planning, this cryptocurrency’s application in corporate treasury is likely to grow.
