Nikolas Sargeant
Canadian wellness firm Jiva Technologies has approved a strategic plan to add up to $1 million in Bitcoin to its corporate treasury, marking another milestone in corporate cryptocurrency adoption.
CEO Lorne Rapkin emphasized the strategic rationale behind the investment. "As Bitcoin continues to gain traction, we see a unique opportunity to strengthen our treasury with a resilient and innovative investment," he stated on November 25.
Rapkin highlighted Bitcoin's key advantages, noting its "inherent scarcity and finite supply" positioning it as a modern hedge against inflation and economic uncertainty. He pointed to the recent wave of Bitcoin exchange-traded fund inflows, which have exceeded $30 billion, as evidence of the cryptocurrency's growing institutional acceptance.
The company, which recently rebranded from PlantX Life, owns Bloombox Club, an online plant delivery marketplace serving the United States, UK, and Europe. This Bitcoin investment follows the company's November 11 joint venture with Kale Coin, an Ethereum-based cryptocurrency focused on the wellness industry.
Following the announcement, Jiva's stock experienced a significant 36.4% spike, rising to $0.33 according to Google Finance. The move aligns with a growing trend of companies diversifying their treasury strategies through cryptocurrency investments.
Recent similar corporate moves include:
- Rumble's $20 million Bitcoin allocation on November 25
- Hoth Therapeutics' $1 million Bitcoin investment on November 20
- Genius Group's $10 million Bitcoin purchase of 110 BTC on November 18
These investments reflect increasing corporate confidence in Bitcoin as a potential store of value and inflation-resistant asset. Rapkin's strategy underscores cryptocurrency's evolving role in corporate financial planning.
