Jetking Invests ₹6.10 Crore in Bitcoin

Currently Holds 21 BTC Valued at Approximately $1.6 Million

Recent online discussions suggested that Jetking, an Indian IT training company, was divesting its entire $6 million real estate holdings to acquire Bitcoin. While this claim garnered significant attention, a closer examination reveals a different narrative.

According to verified financial disclosures and reports from reputable media outlets, Jetking has indeed entered the Bitcoin market. However, this move was financed through a preferential share issue, not through the sale of real estate assets.

The company successfully raised ₹6.10 crore (approximately $760,000 USD) through a strategic fundraising initiative. These funds were specifically allocated for the purchase of Bitcoin, positioning Jetking as one of the first publicly listed Indian companies to officially embrace cryptocurrency in this manner.

Real Estate Rumors Lack Substantiation

The widespread claim of a $6 million property sale is unsubstantiated by credible news sources or official company documents. Current disclosures do not indicate that Jetking possesses a real estate portfolio of that magnitude, nor that it has sold any property to fund its Bitcoin acquisition.

As of now, Jetking holds 21 BTC, acquired at an average price of ₹64.65 lakh per coin. The total value of its Bitcoin holdings is approximately ₹13.6 crore, or around $1.6 million USD.

This Bitcoin investment, while noteworthy, is significantly smaller than the rumored $6 million figure.

India’s Foray into Bitcoin?

Jetking's transparent approach to acquiring Bitcoin through a share issue could serve as an example for other Indian businesses considering crypto investments. However, the narrative of a large-scale real estate liquidation appears to be unfounded.

Read also:

Jetking Eyes Bitcoin, Not Buildings
Dogecoin Eyes $0.65 in Bullish Breakout
VanEck Solana ETF Listed on DTCC as $VSOL
JD.com Seeks Global Stablecoin Licenses
DDC Enterprise Eyes $528M Bitcoin Buy

The post Jetking Eyes Bitcoin, Not Buildings appeared first on CoinoMedia.