The firm is Jiva Technologies, a Canadian wellness and plant-based e-commerce company, which cleared a proposal to add Bitcoin to the corporate treasury. Bitcoin investments are now allowed up to $1 million after going through the board of directors. This is a strategic move into innovation that the company boasts of, making a confident move on Bitcoin as a resilient source of financial assets.
On this development, Lorne Rapkin, Chief Executive Officer of Jiva Technologies, sounded optimistic, saying, “As Bitcoin continues to gain traction as an asset class accepted and trusted widely, we see a unique opportunity to strengthen our treasury with a resilient and innovative investment. Bitcoin, being in scarcity and having a finite supply, is the newest hedge against inflation and thus a haven of safety in uncertain economic times.”
A Strategic Asset for Corporate Treasuries
The growing trend of corporations adopting Bitcoin as part of their treasury strategies is underscored by Jiva Technologies. According to the firm, key benefits include Bitcoin’s inflation resistance and potential for value preservation. According to Rapkin, it is the trend towards institutional adoption and favorable regulatory frameworks that make Bitcoin so attractive.
The recent inflows into Bitcoin exchange-traded fund (ETF) further reinforce this view. Since its launch, more than $30 billion has flowed into Bitcoin ETFs, indicating great investor enthusiasm. As Rapkin pointed out, this flows “underscores Bitcoin’s value proposition” and makes it an ideal asset for corporate treasuries wanting to diversify and hedge against inflation.
Jiva Technologies’ Wellness Mission and Expansion
Founded as PlantX Life in November 2024, Jiva Technologies had renamed to reflect an expanded focus on wellness and plant-based products. Dedicated to building online wellness communities and immersive physical environments for health and sustainability, the company owns and operates a Bloombox Club-an online market for the home delivery of plants to clients in the United States, the United Kingdom, and Europe. The innovation theme is not only in its products but also in the interactions the company has engaged in to bring technology into wellness.
On Nov. 11, Jiva announced a joint venture with Kale Coin (KALE), an Ethereum-based cryptocurrency developed specifically for the wellness industry. This joint venture is another example of the company using blockchain to bestow value to the ecosystem of wellness. Immediately after the news, the stock price of Jiva increased 36.4%, reaching $0.33 per share on Google Finance.
A Growing Trend Among Corporations
Jiva Technologies is the latest company in a growing list to include Bitcoin in its financial strategy. Bitcoin’s performance as a store of value has led companies to embrace it as a hedge against inflation and uncertainty about economies.
Recently, the following companies have taken similar steps:
- Video-sharing site Rumble said on Nov. 25 that it would set aside up to $20 million in excess cash reserves for Bitcoin.
- Hoth Therapeutics, a biopharmaceutical firm, announced Nov. 20 that it would invest as much as $1 million in Bitcoin, saying the digital currency has “inflation-resistant” properties.
- Genius Group is an artificial intelligence firm with a long-term strategy. On Nov. 18, it acquired 110 Bitcoin for $10 million to add to its treasury reserve.
These investments represent a larger trend in businesses, making Bitcoin an attractive, diversified financial asset. They mark growing confidence in the ability of Bitcoin to ride out market volatility and still secure long-term returns.
Adding Bitcoin to Jiva Technologies’ treasury was a bold move, aligned with its innovative vision and a step toward reinforcing its financial base. The diversification of assets with Bitcoin proves forward-thinking in terms of treasury management for the firm.
As corporations tend to explore the adoption of Bitcoin as part of their financial strategy, Jiva’s decision might hasten others within the wellness and e-commerce industries to participate in the planning process through cryptocurrency. Institutional uptake and further positive regulatory milestones thus form the foundations on which the adoption of Bitcoin will be broadened into corporate treasuries.
