Jetking Eyes Bitcoin, Not Buildings
Jetking to invest $6M in Bitcoin, but no proof of real estate sale backs the viral claim.
- Jetking raised ₹6.10 crore to buy Bitcoin.
- Holds 21 BTC worth around $1.6 million.
- No confirmed real estate sale for Bitcoin purchase.
Recent social media buzz claimed that Indian IT training company Jetking is selling its entire $6 million real estate portfolio to buy Bitcoin. While the headline grabbed attention, the facts tell a different story.
According to verified financial disclosures and reputable media reports, Jetking did indeed enter the Bitcoin market recently. However, this move came through a preferential share issue—not by liquidating real estate assets.
The company raised ₹6.10 crore (about $760,000 USD) in a strategic fundraising round. These funds were explicitly earmarked for purchasing Bitcoin, making Jetking one of the first Indian public companies to officially embrace cryptocurrency in this manner.
Real Estate Rumors Not Backed by Facts
The viral claim of a $6 million property sale has no backing from credible news outlets or official company filings. As of the latest disclosures, there is no indication that Jetking owns a real estate portfolio of that value, let alone that it sold one to finance its Bitcoin purchase.
Currently, Jetking holds 21 BTC, acquired at an average price of ₹64.65 lakh per coin. The total value of its Bitcoin holdings stands at approximately ₹13.6 crore, or around $1.6 million USD.
This Bitcoin purchase, while notable, is far smaller than the rumored $6 million figure.
India’s First Bold Bitcoin Bid?
Jetking’s public and transparent approach to acquiring Bitcoin through a share issue may set a precedent for Indian businesses exploring crypto investments. But for now, the tale of a massive real estate exit is more fiction than fact.
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