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Jiva Technologies, a wellness and plant-based e-commerce company, has announced plans to allocate up to $1 million of its treasury into Bitcoin, following approval from its board of directors. The decision marks a strategic shift for the Canadian firm, which recently rebranded from PlantX Life to focus on building wellness communities and supporting sustainable brands.
Bitcoin: A hedge Against Inflation
Lorne Rapkin, CEO of Jiva Technologies, noted Bitcoin’s potential as a hedge against inflation and a secure asset in uncertain economic conditions. “Bitcoin’s inherent scarcity and finite supply position it as a modern hedge against inflation and a safe haven in times of economic uncertainty,” Rapkin stated on November 25.
The CEO also cited the recent influx of institutional adoption and favorable regulatory developments as key factors. “The inflows into Bitcoin ETFs, now exceeding $30 billion, underscore Bitcoin’s value proposition and make us believe it is an ideal asset for corporate treasuries,” he added.
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Growing Corporate Interest in Bitcoin
Jiva’s move mirrors a growing trend among companies diversifying their treasuries with Bitcoin. Other firms have recently adopted similar strategies, including video-sharing platform Rumble, which allocated up to $20 million of its reserves to Bitcoin on November 25.
Biopharmaceutical firm Hoth Therapeutics followed suit on November 20, earmarking $1 million for Bitcoin to leverage its inflation-resistant qualities. Meanwhile, artificial intelligence company Genius Group made a significant investment of $10 million, acquiring 110 BTC on November 18 as part of its treasury reserve strategy.
Jiva’s decision aligns with its broader innovation-focused approach. Earlier this month, the company announced a joint venture with Kale Coin (KALE), an Ethereum-based cryptocurrency tailored for the wellness sector.
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Positive Market Reaction
The announcement triggered a 36.4% surge in Jiva’s stock price, reaching $0.33, signaling investor confidence in the firm’s forward-thinking strategies. Jiva Technologies operates platforms such as Bloombox Club, a plant delivery marketplace serving customers across the U.S., U.K., and Europe, strengthening its position as a key player in the wellness and e-commerce sectors.
As Bitcoin continues to gain mainstream acceptance, Jiva’s strategic treasury decision underscores a broader crypto adoption.
