Jetking Transforms into Bitcoin Treasury to Bypass India’s 30% Crypto Tax
Jetking, a 77-year-old Indian electronics and IT-training brand, has pivoted to holding Bitcoin as a treasury asset after pandemic-era revenue losses. CFO Siddarth Bharwani explains that the firm follows a “never sell Bitcoin” policy to avoid India’s 30% crypto tax, reporting valuation changes as revaluation reserves rather than taxable gains. Jetking plans to hold 210 BTC by end-2025. To address regulatory concerns, all Bitcoin purchases are made through FIU-registered exchanges and stored with institutional-grade custodians under strict KYC/AML checks. The company advocates for graded capital gains tax, loss carry-forward, and GST clarity for crypto held purely as reserves.
Bullish
Jetking’s decision to allocate corporate treasury to Bitcoin signals growing institutional confidence and corporate adoption of crypto, a key bullish driver. The “never sell” strategy to sidestep India’s 30% tax demonstrates creative tax engineering that could inspire other firms. Historically, major corporate Bitcoin buys (e.g., MicroStrategy) have correlated with positive price momentum and increased investor interest. In the short term, renewed buying pressure from companies targeting 210 BTC by 2025 could lift prices. Long term, regulatory engagement and calls for graded taxes may improve India’s crypto framework, further legitimizing Bitcoin and supporting sustainable upward trends.