Jiva Technologies to purchase $1 million worth of Bitcoin

The board of directors at Jiva Technologies has approved the company's strategy to purchase up to $1 million worth of Bitcoin, according to Cointelegraph.

Jiva Technologies CEO Lorne Rapkin emphasized that Bitcoin is a reliable asset class widely recognized by society. As such, the company views investing in the leading cryptocurrency as an opportunity to grow its capital. Rapkin also highlighted Bitcoin’s increasing popularity among institutional investors, as evidenced by the growing inflow of funds into Bitcoin ETFs.

"This proves that Bitcoin has value. We believe Bitcoin is the perfect asset for corporate investment, helping companies build resilience against inflation," said Lorne Rapkin.

In early November, Jiva Technologies announced a partnership with the crypto project Kale Coin (KALE) to develop an Ethereum-based cryptocurrency focused on promoting a healthy lifestyle.