According to Cointelegraph, Jiva Technologies, a wellness and plant-based e-commerce company, has decided to incorporate Bitcoin into its treasury strategy. The board of directors has approved an investment of up to $1 million in Bitcoin. CEO Lorne Rapkin expressed confidence in Bitcoin's growing acceptance as a trusted asset class, viewing it as a strategic move to enhance the company's financial resilience. Rapkin emphasized Bitcoin's scarcity and finite supply as key factors that position it as a modern hedge against inflation and a safe haven during economic uncertainty. He also noted the potential for favorable regulatory developments and increased institutional adoption, citing the significant inflows into Bitcoin exchange-traded funds, which have surpassed $30 billion since their inception. This trend, according to Rapkin, underscores Bitcoin's value proposition and makes it an attractive asset for corporate treasuries seeking inflation-resistant stores of value.
Jiva Technologies, headquartered in Canada, focuses on building online wellness communities and creating immersive physical environments. The company, formerly known as PlantX Life, rebranded in early November and operates Bloombox Club, an online plant delivery marketplace serving the United States, UK, and Europe. On November 11, Jiva announced a joint venture with Kale Coin (KALE), an Ethereum-based cryptocurrency tailored for the wellness industry. Following this announcement, Jiva's stock surged by 36.4% to $0.33, as reported by Google Finance. The firm joins a growing list of companies integrating Bitcoin into their corporate treasury strategies.
In a similar move, Rumble, a YouTube alternative video-sharing platform, revealed plans to add Bitcoin to its balance sheet. The board approved the strategy, allocating up to $20 million of the company's excess cash reserves to Bitcoin. Additionally, on November 20, biopharmaceutical company Hoth Therapeutics allocated up to $1 million to Bitcoin, citing its inflation-resistant characteristics and potential as a store of value. Furthermore, on November 18, artificial intelligence firm Genius Group purchased 110 BTC for $10 million for its treasury reserve. These developments reflect a broader trend of companies adopting Bitcoin as a strategic financial asset.