Health and plant-based e-commerce firm Jiva Technologies has become the latest corporate venture to confirm its strategy of adding Bitcoin (BTC) to its corporate treasury.
The company's board of directors decided to allocate up to $1 million for BTC investment.
“As Bitcoin continues to rise as a widely accepted and trusted asset class, we see a unique opportunity to strengthen our treasury with a durable and innovative investment,” Jiva Technologies CEO Lorne Rapkin said in a statement on Nov. 25.
Rapkin said Bitcoin’s scarcity and limited supply position it as a modern inflation hedge and a safe haven during times of economic uncertainty, while also highlighting the potential for positive regulatory frameworks and increased institutional adoption.
Drawing attention to the recent increase in demand for Bitcoin exchange-traded funds (ETFs), Rapkin stated that these inflows exceeded $ 30 billion in total, and said, “This development strengthens Bitcoin’s value proposition and makes it an ideal asset for corporate treasuries looking for an inflation-resistant store of value.”
Jiva Technologies and new strategies
Canada-based Jiva Technologies is an e-commerce company focused on building health communities and developing joint ventures to support wellness brands. The company rebranded its former brand, known as PlantX Life, to Jiva Technologies in early November.
Bloombox Club, owned by Jiva, operates as an online plant delivery marketplace serving the US, UK, and Europe. The company also announced a joint venture with Kale Coin (KALE), an Ethereum-based cryptocurrency developed specifically for the healthcare industry.
With these developments, Jiva Technologies' shares rose 36.4 percent to $0.33, according to Google Finance data.
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