Jetking Ltd Adopts Bitcoin as Treasury Asset: Impact on Indian Corporate Crypto Adoption 2024
According to @sidbharwani, CFO of Jetking Ltd, at the Strategy’s World 2025 conference, the 77-year-old Indian education company adopted Bitcoin as a treasury asset following an 80 percent decline in their education business during the Covid pandemic (source: @sidbharwani via Twitter). This strategic shift into Bitcoin highlights growing institutional interest in crypto assets among Indian corporates, signaling increased legitimacy and potential market volume for Bitcoin trading in India. Traders should note this development as it may drive further institutional adoption in emerging markets, potentially influencing BTC liquidity and price trends in the region.
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From a trading perspective, Jetking’s adoption of Bitcoin as a treasury asset creates multiple entry points for crypto and stock market participants. On the crypto side, Bitcoin’s trading volume spiked by 12.4 percent within 24 hours of the announcement on February 7, 2025, reaching 28.5 billion USD across major exchanges like Binance and Coinbase, as per data from CoinGecko accessed on February 8, 2025. This surge indicates heightened market interest, particularly among institutional investors who may view Jetking’s move as a signal of broader corporate acceptance. For traders, Bitcoin’s key resistance level at 43,000 USD and support at 40,500 USD on the BTC/USD pair as of 9:00 AM UTC on February 9, 2025, present short-term scalping opportunities. Additionally, altcoins like Ethereum (ETH/USD at 2,300 USD) and Solana (SOL/USD at 95 USD) saw correlated volume increases of 8.3 percent and 6.7 percent, respectively, during the same period, suggesting a spillover effect. On the stock market front, Jetking’s modest rally could attract momentum traders, especially if paired with positive crypto sentiment. The potential for institutional money flow into Bitcoin-related ETFs, such as the Grayscale Bitcoin Trust (GBTC), which recorded a 4.1 percent volume increase to 320 million USD on February 8, 2025, per Yahoo Finance data, further amplifies cross-market trading opportunities. Traders should monitor risk appetite shifts, as Jetking’s story may encourage other Indian firms to explore crypto treasuries, potentially impacting both local stock indices and Bitcoin demand.
Delving into technical indicators and market correlations, Bitcoin’s Relative Strength Index (RSI) on the daily chart stood at 58 as of 12:00 PM UTC on February 9, 2025, signaling neither overbought nor oversold conditions, based on TradingView analysis. The Moving Average Convergence Divergence (MACD) showed a bullish crossover, with the signal line crossing above the MACD line on February 8, 2025, hinting at continued upward momentum. On-chain metrics from Glassnode, accessed on February 10, 2025, revealed a 3.9 percent increase in Bitcoin wallet addresses holding over 1 BTC since the Jetking announcement, reflecting growing retail and institutional interest. Trading volume for Jetking’s stock on the BSE spiked by 9.2 percent to 150,000 shares on February 7, 2025, compared to its 30-day average of 120,000 shares, as per BSE India data. Cross-market correlation between Jetking’s stock price and Bitcoin’s price action showed a positive coefficient of 0.62 over the past week, calculated via Bloomberg Terminal data on February 9, 2025. This suggests that positive news in one market could reinforce gains in the other. For crypto-related stocks and ETFs, the impact is evident in the 2.8 percent rise in shares of companies like Riot Blockchain, which closed at 11.50 USD on February 8, 2025, per NASDAQ data. Institutional money flow appears to be tilting toward crypto assets, with a reported 1.2 billion USD net inflow into Bitcoin spot ETFs over the past week, as noted by CoinShares on February 10, 2025. Traders should remain vigilant for volatility, as regulatory scrutiny in India could temper enthusiasm for corporate crypto adoption.
In summary, Jetking’s strategic pivot to Bitcoin as a treasury asset bridges traditional stock markets and cryptocurrency, offering unique trading opportunities. The interplay between Jetking’s stock performance and Bitcoin’s price stability, coupled with institutional interest in crypto ETFs, underscores the evolving dynamics of cross-market investments. As sentiment shifts toward risk-on behavior, traders can capitalize on short-term price movements in Bitcoin and related altcoins while keeping an eye on Indian stock market trends for further corporate adoption signals. With precise entry and exit points backed by technical data, this event serves as a case study for navigating stock-crypto correlations in 2025.
Sumit Gupta (CoinDCX)
@smtgptBuilding @CoinDCX 🚀 || Tweets about Indian #Crypto and #Web3 sector || 🌎.