Originally published on: November 26, 2024
Jiva Technologies, a Canadian wellness and plant-based e-commerce firm, has made a bold move by approving a plan to invest up to $1 million in Bitcoin as part of their treasury strategy. The decision comes in light of Bitcoin’s increasing acceptance as a reliable asset class.
CEO of Jiva Technologies, Lorne Rapkin, sees Bitcoin as a resilient and innovative investment that can strengthen the company’s treasury. He emphasizes Bitcoin’s scarcity and finite supply as factors positioning it as a modern hedge against inflation and a safe haven during economic uncertainties. Rapkin also notes the favorable regulatory environment and growing institutional adoption of Bitcoin, pointing to the influx of more than $30 billion in Bitcoin exchange-traded fund investments since launch.
The company, previously known as PlantX Life, is dedicated to fostering online wellness communities and creating immersive physical spaces that support wellness brands. Jiva Technologies owns and operates Bloombox Club, an online plant delivery marketplace catering to customers in the United States, United Kingdom, and Europe.
Following their recent rebranding, Jiva Technologies entered into a joint venture with Kale Coin (KALE), an Ethereum-based cryptocurrency designed for the wellness industry. This move led to a 36.4% surge in their stock price to $0.33, as reported by Google Finance.
Jiva Technologies joins a growing list of companies incorporating Bitcoin into their corporate treasury strategies. Other firms, such as Rumble, Hoth Therapeutics, and Genius Group, have also allocated significant sums to Bitcoin investments. This trend highlights the increasing recognition of Bitcoin as an inflation-resistant store of value by businesses across various industries.
As Jiva Technologies embraces the world of cryptocurrencies, the company looks poised to ride the wave of digital innovation in the wellness sector. Stay updated on the latest blockchain and crypto business trends by subscribing to our Crypto Biz newsletter for valuable insights and financial opportunities.
