An Indian company has just set history by making it become the first public company in India to adopt Bitcoin Standard. The attention of a big Bitcoin supporter and co-founder of Strategy (formerly MicroStrategy) was caught by this big decision. Jetking’s move was praised by Saylor and he took to the social media platform X on February 10, 2025.
In another development, BitcoinHub, a popular cryptocurrency news platform, also quoted Jetking’s historic move as a big step for Bitcoin adoption in India.
According to Siddarth Bharwani, Jetking’s CFO, lessons learnt in the Covid pandemic in 2020 motivated the company to invest into Bitcoin. Around that time, almost approximately 75% of Jetking’s business had to be closed down. The reason they wanted to adopt Bitcoin as a way to further solidify the company in the future, is so that it makes it bulletproof, Bharwani said.
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Strategy, a U.S. based company led by Saylor is what Jetking’s Bitcoin strategy is similar to. More recently, Strategy has resumed buying Bitcoin, buying some 7,633 Bitcoin worth $742 million. This proves that they have firm faith in cryptocurrency.
When the news of Jetking’s move spread in the market, everyone was very excited. Bitcoin prices increased 3% from $95,200 to $97,700, within an hour, while trading volume surged at Binance as well as Coinbase. The number of Bitcoin commissions is up by 15% across Indian exchanges such as WazirX.
The other cryptocurrencies, such as Ethereum, also registered a 5% rise, indicating how a decision taken by a single company can create a ripple effect in the entire market. The move by Jetking illustrates how the companies in emerging markets like India are moving on to adopting Bitcoin in their financial plan.
If supported by Saylor, Jetking’s adoption of the Bitcoin Standard could set the trend for other companies to do the same.
Also read: Czech Central Bank Plans to Invest in Bitcoin for National Reserves
